equired information Skip to question [The following information applies to the questions displayed below.] The financial statements for Highland Corporation included the following selected information: Common stock $ 1,650,000 Retained earnings $ 900,000 Net income $ 1,090,000 Shares issued 110,000 Shares outstanding 80,000 Dividends declared and paid $ 620,000 The common stock was sold at a price of $36 per share. Required: 1. What is the amount of additional paid-in capital?

Regarding the flow of costs through the inventory accounts, which of the following statements is incorrect? a. the costs flow from raw materials inventory to work-in-process inventory to finished goods inventory. b. the format for computing the amount used, manufactured, or sold is the same for all three inventory accounts. c. the final amount at each stage is added at the beginning of the next stage. d. purchases of raw material and freight in are debited to the work-in-process inventory account.