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What is reported in the company balance sheet

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Question 1: The initial number of authorized shares specified in the company's articles of incorporation is 25,000 shares of $10 par value per share common stock. A few weeks later, the company issues 10,000 shares of this common stock for $26 in cash per share. Later, the company buys back 1,000 shares of this stock for the same $26 per share and retires these shares. What is reported in this company's balance sheet in its Common Stock account ?

Option 1: $250,000

Option 2: $100,000

Option 3: $74,000

Option 4: $90,000

Reference no: EM132586521

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