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Tomlinson Packaging Corporation began business in 2017 by issuing 54000 shares of $5 par common stock for $6 per share and 5400 shares of 8%, $10 par preferred stock for par. At year end, the common stock had a market value of $10. On its December 31, 2017 balance sheet, Tomlinson Packaging would report
Paid-in Capital of $475200.
Common Stock of $540000.
Common Stock of $270000.
Common Stock of $324000
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