In its consolidated balance sheet at December 31, 20X8, what amount should Paint report as common stock outstanding?

a. $50,000

b. $100,000

c. $137,500

d. $150,000 Items 1 and 2 are based on the following:
On January 2, 20X8, Paint Company acquired 75 percent of Stain Company’s outstanding common stock at an amount equal to its underlying book value.
Selected balance sheet data at December 31, 20X8, follow:

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Total Assets Paint Company $420,000 Stain Company $180,000 Liabilities $120,000 $ 60,000 Common Stock 100,000 50,000 Retained Earnings 200,000 70,000 $420,000 $180,000