Vaughn Manufacturing's December 31, 2020 balance sheet showed the following: 6% preferred stock, $20 par value, cumulative, 40000 shares authorized; 16000 shares issued $320000 Common stock, $10 par value, 4,000,000 shares authorized: 2,600,000 shares issued, 2,560,000 shares 19700000 outstanding Paid-in capital in excess of par value - preferred stock 69000 Paid-in capital in excess of par value - common stock 28500000 Retained earnings 9750000 Treasury stock (40,000 shares) 494000 Vaughn's total paid-in capital was $21089000. $49429000 $48589000. $47749000