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What is total paid-in capital

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Question - Panhandle Corporation was organized on January 3, 2010. The firm was authorized to issue 200,000 shares of $5 par common stock. During 2010, Panhandle had the following transactions relating to shareholders' equity:

Issued 60,000 shares of common stock at $7 per share.

Issued 40,000 shares of common stock at $8 per share.

Reported a net income of $200,000.

Paid dividends of $100,000.

What is total Paid-in capital at the end of 2010?

Reference no: EM132043742

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