Vaughn Manufacturing has 100000 shares of $10 par common stock authorized. The following transactions took place during 2020, the first year of the corporation's existence Sold 19100 shares of common stock for $13.50 per share. Issued 19400 shares of common stock in exchange for a patent valued at $291000, At the end of the Vaughn's first year, total paid in capital amounted to $111000 $257850 $548850 5291000 Swifty Corporation issues 7000 shares of its $10 par value common stock having a fair value of $30 per share and 10000 shares of its $10 par value preferred stock having a fair value of $30 per share for a lump sum of $317000. The proceeds allocated to the common stock is $184000 $186471 $130529 $210000