Use the accounting equation to solve for the missing information for Paid In Capital at 12/31/16 (don’t bother entering cents, just round to the nearest dollar):
Total Assets, 12/31/16 = $23,000
Total Liabilities, 12/31/16 = $8,000
Paid-in Capital, 12/31/16 = $ ???
Retained Earnings, 12/31/16 = $ ???
Net Income for 2016 = $4,000
Dividends declared & paid in 2016 = $500
Retained Earnings, 01/01/16 = $6,000