Laramie Corporation Was Organized on January 3,2015

Multiple Choice

Laramie Corporation was organized on January 3,2015.Laramie was authorized to issue 50,000 shares of common stock with a par value of $10 per share.On January 4,Laramie issued 30,000 shares of common stock at $25 per share.On July 15,Laramie issued an additional 10,000 shares at $20 per share.Laramie reported income of $33,000 during 2015.In addition,Laramie declared a dividend of $.50 per share on December 31,2015.
-See Laramie Corporation information above.The amount reported on Laramie Corporation's December 31,2015,balance sheet as additional paid-in capital was

A) $400,000.
B) $550,000.
C) $563,000.
D) $950,000.