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Question 7 2 pts The corporate charter of Cedar, Inc. authorized...

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Accounting

Question 7
2 pts
The corporate charter of Cedar, Inc. authorized the issuance of 40 million, $1 par common shares. During 2024, its first year of operations, Cedar had the following transactions:
January 2,2024,
Sold 15 million shares at $7 per share
September 12,2024
Reacquired 4 million treasury shares at $6 per share
December 18,2024
Resold 3 million treasury shares at $10 per share
What amount should Cedar report as additional paid-in capital in its December 31,2024, balance sheet?
$105 million
$95 million
$99 million
$102 million
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