Towson Corp.,was organized on January 2, 2018. During the first year of operation, Towson issued 60,000 shares of $8 par value common stock at a price of $40 cash per share.On December 31, 2018, Towson reported Net Income of $250,000 and paid $50,000 cash dividends. Use this information to determine the dollar amounts that Towson will report on its year end Balance Sheet forPaid in Capital Common Stock in Excess to par.