Concord Corporation December 31, 2017 balance sheet showed the following:

6% preferred stock, $10 par value, cumulative,

40000 shares authorized; 25000 shares issued

$ 250000

Common stock, $10 par value, 4,000,000 shares authorized;

2,600,000 shares issued, 2,560,000 shares outstanding

26000000

Paid-in capital in excess of par value – preferred stock

70000

Paid-in capital in excess of par value – common stock

28400000

Retained earnings

9750000

Treasury stock (30000 shares)

690000

Concord total stockholders’ equity was

A)$64620000.

B)$52420000.

C)$63780000.

D)$65460000.

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