Question - Tandem Corporation issued 200,000 shares of $2 par value common stock at date of incorporation for cash at a price of $7per share. During the first year of operations, the company earned $80,000 and declared a dividend of $25,000. At the end of this first year of operations, the balance of the common stock account is:
A. 1,400,000
B. 1,480,000
C. 1,455,000
D. 400,000