Homework answers / question archive / The stockholders' equity section of JM Company revealed the following information on December 31 2020: Preferred stock, P100 par, 2,300,000; Paid in capital in excess of par-preferred, 805,000; common stock, P15 par, 5,250,000; Paid-in capital in excess of par-common, 2,750,000; subscribed common stock, 500,000; retained earnings, 1,900,000; Note payable, 4,000,000; Subscription receivable-common, 400,000

The stockholders' equity section of JM Company revealed the following information on December 31 2020: Preferred stock, P100 par, 2,300,000; Paid in capital in excess of par-preferred, 805,000; common stock, P15 par, 5,250,000; Paid-in capital in excess of par-common, 2,750,000; subscribed common stock, 500,000; retained earnings, 1,900,000; Note payable, 4,000,000; Subscription receivable-common, 400,000

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The stockholders' equity section of JM Company revealed the following information on December 31 2020: Preferred stock, P100 par, 2,300,000; Paid in capital in excess of par-preferred, 805,000; common stock, P15 par, 5,250,000; Paid-in capital in excess of par-common, 2,750,000; subscribed common stock, 500,000; retained earnings, 1,900,000; Note payable, 4,000,000; Subscription receivable-common, 400,000. How much is the legal capital?


A. 11,605,000
B. 9,950,000
C. 8,050,000
D. 7,650,000