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Question(s) / Instruction(s):

A corporation has the following account balances: Common Stock, $1 par value, $40,000; Paid-in Capital in Excess of Par Value, $1,800,000.  Based on this information, the

            a.   legal capital is $1,840,000.

            b.   number of shares issued is 40,000.

            c.   number of shares outstanding is 1,840,000.

            d.   average price per share issued is $4.60.

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