Sosa Co.’s stockholders’ equity at January 1, 2010 is as follows:
Common stock, $10 par value; authorized 300,000 shares;
Outstanding 225,000 shares
$2,250,000
Paid-in capital in excess of par
900,000
Retained earnings
2,190,000
Total
$5,340,000
During 2010, Sosa had the following stock transactions:
Acquired 6,000 shares of its stock for $270,000.
3,600 treasury shares at $50 a share.
Sold the remaining treasury shares at $41 per share.
No other stock transactions occurred during 2010. Assuming Sosa uses the cost method to record treasury stock transactions, the total amount of all additional paid-in capital accounts at December 31, 2010 is:
a) $870,000.
b) $891,600.
c) $908,400
d) $927,600.