Reference no: EM132928382

Jerome Company reported the following equity accounts:

Preference share capital, 23,000 shares, P52 par value 1,196,000

Additional Paid in Capital - Preference shares 322,000

Ordinary share capital, 145,000 shares, P66 par value 9,570,000

Additional Paid in Capital - Ordinary Shares 1,885,000

Subscribed ordinary share capital 3,200,000

Retained earnings 2,354,700

Problem 1: From what Jerome Company has reported, what is the legal capital?

a. 10,766,000

b. 16,173,000

c. 12,973,000

d. 13,966,000