Flagler Corporation Shows a Total of $660,000 in Its Common

Multiple Choice

Flagler Corporation shows a total of $660,000 in its common stock account and $1,600,000 in its paid-in capital in excess of par value − common stock account. The par value of Flagler's common stock is $8. How many shares of Flagler stock have been issued?

A) 117,500
B) 200,000
C) 82,500
D) It cannot be determined