Lewis Corporation issued 125,000 shares of $5 par value capital stock at date of incorporation for cash at a price of $9 per share. During the first year of operations, the company earned $140,000 and declared a dividend of $100,000.
At the end of this first year of operations, the balance of the Capital Stock account is:
a) $765,000. b) $1,000,000. c) $625,000. d) $665,000.
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