Zigma Corporation is authorized to issue 7,000,000 shares of $2 par value capital stock. The...
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Accounting
Zigma Corporation is authorized to issue 7,000,000 shares of $2 par value capital stock. The corporation issued half the stock for cash at $6 per share, earned $426,000 during the first three months of operation, and declared a cash dividend of $90,000. The total paid-in capital of Zigma Corporation after three months of operation is:
a) $21,000,000
b) $17,410,000
c) $17,500,000
d) $17,926,000
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