Reference no: EM132893621

Coronado Corporation's December 31, 2021 balance sheet showed the following:

9% preferred stock, $20 par value, cumulative, 15100 shares authorized; 10100 shares issued $202000

Common stock, $10 par value, 1010000 shares authorized; 985000 shares issued, 969900 shares outstanding 9850000

Paid-in capital in excess of par-preferred stock 28000

Paid-in capital in excess of par-common stock 11460000

Retained earnings 3790000

Treasury stock (15100 shares) 317100

Problem 1: Coronado's total paid-in capital was

Option 1: $21222900.
Option 2: $21540000.
Option 3: $11590000.
Option 4: $21857100.