Clothing Emporium was organized on January 3, 2015. The firm was authorized to issue 150,000 shares of $6 par common stock. During 2015, Clothing Emporium had the following transactions relating to shareholders' equity:
Issued 45,000 shares of common stock at $8 per share.
Issued 30,000 shares of common stock at $9 per share.
Reported a net income of $150,000.
Paid dividends of $75,000.
What is total paid-in capital at the end of 2015?
$555,000
$780,000
$630,000
$705,000