In Year 1, Stock to the Hand, Inc., issued 30,000 shares of the 800,000 shares of $0.70 par value common stock it is allowed to sell. The total received from issuing its common stock is $700,000. Stock to the Hand bought back 3,000 shares of its stock at a cost of $13 each. On December 31, the last day of Year 1, Stock to the Hand declared and paid a $0.80 per share dividend to its common shareholders. Stock to the Hand has no preferred stock. Paid in Capital in Excess of Par on the balance sheet at December 31, Year 1, equals ______.

a. 679000
b. 550,000.
c. 563,000.
d. 950,000.

Ans: a. 679000