Amlin Corporation was incorporated on January 1, 2019, with the following authorized capitalization:
During 2019, Amlin issued 12,000 shares of common stock for a total of $600,000 and 3,000 shares of preferred stock at $16 per share. In addition, on December 21, 2019, subscriptions for 1,000 shares of preferred stock were taken at a purchase price of $17. These subscribed shares were paid for on March 4, 2020. What should Amlin report as total contributed capital on its December 31, 2019, balance sheet issued on February 1,2020?
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