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Zigma Corporation is authorized to issue 2,000,000 shares of $4 par value capital stock. The corporation issued half the stock for cash at $7

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Zigma Corporation is authorized to issue 2,000,000 shares of $4 par value capital stock. The corporation issued half the stock for cash at $7 per share, earned $636,000 during the first three months of operation, and declared a cash dividend of $50,000. The total paid-in capital of Zigma Corporation after three months of operation is: Multiple Choice $7,000,000. $7,636,000. $6,950,000. $7,586,000.

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