The corporate charter of Alpaca Co. authorized the issuance of 10 million, $1 par common shares. During 2021, its first year of operations, Alpaca had the following transactions: January   1   sold 8 million shares at $15 per share June   3   retired 2 million shares at $18 per share December   28   sold 2 million shares at $20 per share

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The corporate charter of Alpaca Co. authorized the issuance of 10 million, $1 par common shares. During 2021, its first year of operations, Alpaca had the following transactions:

January   1   sold 8 million shares at $15 per share
June   3   retired 2 million shares at $18 per share
December   28   sold 2 million shares at $20 per share
What amount should Alpaca report as additional paid-in capital—excess of par, in its December 31, 2021, balance sheet?
   
$116 million
   
$112 million
   
$122 million
   
$74 million
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