Problem: Sharp Corporation has 150,000 shares of $10 par common stock authorized. The following transactions took place during 2013, the first year of the corporation's existence:
Sold 15,000 shares of common stock for $15 per share
Issued 10,000 shares of common stock in exchange for legal services valued at $160,000
At the end of Sharp's first year, total paid-in capital amounted to: