Question - Alpha Corp., was organized on January 2, 2018. During the first year of operation, Alpha issued 100,000 shares of $1 par value common stock at a price of $50 cash per share. On December 31, 2018, Alpha reported Net Income of $250,000 and paid $50,000 cash dividends. Use this information to determine the dollar amounts that Alpha will report on its year-end Balance Sheet:
1. common stock
2. paid in captial common stock in excess to par
3. retained earning