Rubio Corporation began business by issuing 300000 shares of $5 par value common stock for $25 per share. During its first year the corporation sustained a net loss of $50000. The year-end balance sheet would show

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The common stock is recorded at par value, which is $5 per share. Therefore, 300,000 shares at $5 par value results in common stock of $1,500,000.

Rubio Corporation Began Business by Issuing 300000 Shares of $5