Nina Corporation's December 31 2017 balance sheet showed the following: 8% preferred stock $20 par value cumulative 40000 shares $\begin{array}{lr}
\text {authorized; 20,000 shares issued}& \$ 400,000 \
\text {Common stock, $ \$ 10 $ parvalue, 4,000,000 shares authorized;}&\
\text {$ 1,950,000 $ shares issued, $3,860,000 $ shares outstanding}&39,000,000\
\text { Paid-in capital in excess of par-preferred stock } & 120,000 \
\text { Paid-in capital in excess of par-common stock } & 54,000,000 \
\text { Retained earnings } & 15,300,000 \
\text { Treasury stock (40,000 shares) } & 1,260,000
\end{array}$ Nina's total paid-in capital was

Question

Quizplus · Accepted Answer

Total paid-in capital is the sum of preferred stock, common stock, and paid-in capital in excess of par for both preferred and common stock: $400,000 + $39,000,000 + $120,000 + $54,000,000 = $93,520,000.

Nina Corporation's December 31 2017 Balance Sheet Showed the Following