Kerwin Packaging Corporation began business in 2010 by issuing 30,000 shares of $5 par common stock for $8 per share and 10,000 shares of 6%, $10 par preferred stock for par. At year end, the common stock had a market value of $10. On its December 31, 2011 balance sheet, Kerwin Packaging would report
a. common stock of $300,000
b. paid-in capital of $150,000
c. common stock of $240,000
d. common stock of $150,000