Find what is total paid-in capital

Reference no: EM131976855

Problem

Silver Corporation was organized on January 3, 2012. The firm was authorized to issue 300,000 shares of $8 par value common stock. During 2012, Silver had the following transactions relating to shareholders' equity: Issued 120,000 shares of common stock at $15 per share. Issued 80,000 shares of common stock at $20 per share. Reported a net income of $1,000,000. Paid cash dividends of $25,000. What is total paid-in capital at the end of 2012?

Reference no: EM131976855

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