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What should the company report as additional paid-in capital

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Question 1: A company issues 10,000 shares of $10 par value common stock for $22 in cash per share. Later, the company buys back 1,000 shares of this stock for the same $22 per share and records it using the par value method. Subsequently, the company sells 100 shares of this treasury stock for $23 per share. What should the company report as additional paid-in capital in the stockholders' equity section of its balance sheet ?

Option 1: $109,300

Option 2: $120,000

Option 3: $121,300

Reference no: EM132586467

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