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Nance Corporation's December 31, 2017 Balance Sheet Showed the Following

Question 186

Multiple Choice

Nance Corporation's December 31, 2017 balance sheet showed the following: 6% preferred stock, $20 par value, cumulative, 30,000 shares authorized; 20,000 shares issued $400,000 Common stock, $10 parvalue, 3,000,000 shares authorized; 1,950,000 shares issued, 1,920,000 shares outstanding 19,500,000 Paid-in capital in excess of parvalue - preferred stock 60,000 Paid-in capital in excess of parvalue - common stock 28,000,000 Retained earnings 9,650,000 Treasury stock (30,000 shares)  630,000\begin{array}{lr}6 \% \text { preferred stock, } \$ 20 \text { par value, cumulative, }\\30,000 \text { shares authorized; } 20,000 \text { shares issued }&\$400,000\\\text { Common stock, } \$ 10 \text { parvalue, } 3,000,000 \text { shares authorized; }\\1,950,000 \text { shares issued, } 1,920,000 \text { shares outstanding }&19,500,000\\\text { Paid-in capital in excess of parvalue - preferred stock } & 60,000 \\\text { Paid-in capital in excess of parvalue - common stock } & 28,000,000 \\\text { Retained earnings } & 9,650,000 \\\text { Treasury stock (30,000 shares) } & 630,000\end{array} Nance's total stockholders' equity was


A) $58,240,000.
B) $47,330,000.
C) $57,610.
D) $56,980,000.

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