Received $48,000,000 for the issuance of its stock on May 14. The par value of the ARM stock was only $48,000. Was the excess amount of $47,952,000 a profit to ARM? If not, what was it? Suppose the par value of the ARM stock had been $4 per share, $8 per share, or $14 per share. Would a change in the par value of the company's stock affect ARM's total paid-in capital? Give the reason for your answer.

a) State the problem you've chosen and what it is asking, the data being given

b) Attach your excel workup showing how you solved, along with commentary on what you did, why set up as you did, observations of the work and how it relates to the equity section of a company's financials

c) YOUR answer, what does it mean in relation to the context of the problem and what it was asking.