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Presented below is information related to Swifty Corporation:
| Common Stock, $1 par | $3470000 |
| Paid-in Capital in Excess of Par―Common Stock | 540000 |
| Preferred 8 1/2% Stock, $50 par | 2030000 |
| Paid-in Capital in Excess of Par―Preferred Stock | 408000 |
| Retained Earnings | 1520000 |
| Treasury Common Stock (at cost) | 152000 |
The total paid-in capital (cash collected) related to the common stock is
| $4010000. |
| $3470000. |
| $5400000. |
| $3878000. |
Expert Answer
A. $4,010,000
The total paid-in capital (cash collected) related to the common stock is:
= Common Stock + Paid-in Capital in Excess of Par―Common Stock
= $3,470,000 + $540,000
= $4,010,000
