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Nakamoto Corporation began business by issuing 400,000 shares of $5 par value common stock for...

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Accounting

Nakamoto Corporation began business by issuing 400,000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $100,000. The year-end balance sheet would show

a. Common stock of $1,900,000.

b. Common stock of $9,600,000.

c. Total paid-in capital of $9,500,000.

d. Total paid-in capital of $9,600,000.

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