Question: 1 5 . Shown below is information relating to the stockholders' equity of Grant Corporation at December 3 1 , Year 1 : 6 %

15. Shown below is information relating to the stockholders' equity of Grant Corporation at December 31, Year 1:6% cumulative preferred stock, $100 par value; authorized 10,000 shares; issued and outstanding, 6,000 sharesCommon stock, $3 par value; authorized, 500,000 shares; issued and outstanding,300,000 sharesAdditional paid-in capital: preferred stockAdditional paid-in capital: common stockRetained earningsDividends have been declared and paid for Year 1.Grant's total paid-in capital at December 31, Year 1, equals:A. $300,000.B. $500,000.C. $1,530,000.D. $3,130,000.

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