Use the Following Information to Answer the Question Below A Balance Sheet Prepared on December 31,20xx,would Report Total Contributed

question 85

Multiple Choice

Use the following information to answer the question below. The following accounts appear in the ledger of Sayre Corporation on December 31,20xx:
$\begin{array}{lr}\text { Preferred Stock } & \$ 30,000 \\\text { Common Stock } & 56,000 \\\text { Additional Paid-in Capital, Preferred } & 7,000 \\\text { Additional Paid-in Capital, Common } & 18,000 \\\text { Retained Earnings } & 40,000\end{array}$ A balance sheet prepared on December 31,20xx,would report total contributed capital of

• A) $86,000.
• B) $93,000.
• C) $111,000.
• D) $151,000.

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