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7. Jansen Packaging Corporation began business in 2015 by issuing 40,000 shares of $5 par common stock for $8 per share and 10,000 shares of 6%,$10 par preferred stock for par. At year end, the common stock had a market value of $10. On its December 31,2015 balance sheet, Jansen Packaging would report A) Common Stock of $400,000. C) Common Stock of $320,000. B) Common Stock of $200,000. D) Paid-In Capital of $300,000