Hyperion company has an authorized capital stock of one thousand shares with a par value of $100 per share, of which nine hundred shares, all fully paid, were outstanding. having an ample surplus, hyperion company purchased from its shareholders one hundred shares at par. subsequently, hyperion, needing additional working capital, issued the two hundred shares in question to alexander at $80.00 per share. two years later, hyperion company was forced into bankruptcy. explain how much, if any, the trustee in bankruptcy may recover from alexander.

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: