Question: Arilla Corporation recently organized The company issued common stock to
Arilla Corporation recently organized. The company issued common stock to an inventor in exchange for a patent with a market value of $54,000. In addition, Arilla received cash for 3,000 shares of its $10 par preferred stock at par value and 6,000 shares of its no-par common stock at $35 per share. Without making journal entries, determine the total paid-in capital created by these transactions.
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