The following information is provided for Wolf Company: ? Retained earnings $445,000 Preferred stock, 5%, $50 par 100,000 Organization expense 2,500 Additional paid-in capital on common stock ? Additional paid-in capital from recall of preferred stock 2,500 Premium on bonds payable 5,700 Common stock, $10 par 350,000 ? If total contributed capital is $506,000, what is the amount of additional
paid-in capital on common stock for Wolf Company?
A) $52,500
B) $51,000
C) $53,500
D) $56,700
C
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