Carson Packaging Corporation began business in 2021 by issuing 30,000 shares of $3 par common stock for $8 per share and 12,000 shares of 6%, $10 par preferred stock for par.At year-end, the common stock had a market value of $12.On its December 31, 2021 balance sheet, Carson Packaging would report

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The common stock is reported at its par value, not the issue price or market value. With 30,000 shares at a $3 par value, the common stock would be reported as $90,000 (30,000 shares * $3 par value).

Carson Packaging Corporation Began Business in 2021 by Issuing 30,000