Mendes Charters reported the following information at December 31, 2015: Preferred stock, $100 par, 500 shares authorized, and outstanding; cumulative; nonparticipating; callable at par value $ 50,000 Common stock, $12 par, 50,000 shares authorized and outstanding 600,000 Additional paid-in capital--Common 25,000 Retained earnings 825,000 Mendes' total contributed capital is
a. $ 650,000
b. $ 675,000
c. $1,500,000
d. $ 625,000
b
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