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What is the balance of the common stock account

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Reference no: EM132574484

The following account balances were drawn from the Year 1 ?nancial statements of Grayson Company:

Cash $ 6400 Accounts payable $ 2250

Accounts receivable $ 3500 Common stock?

Land $ 10,000 Retained earnings,Jan.1 4700

Revenue 11,500 Expenses 3250

Question 1: What is the balance of the Common Stock account?

Option 1: $9700

Option 2: $12,400

Option 3: $1450

Option 4: $12,950

Reference no: EM132574484

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