Paid in capital
preferred stock, 5%, 5 par,650,000 shares authorized, 280,000 shares issued $1,400,000
common stock, par value $1 per share, 5,000,000 shares authorized, 1,350,000 shares issued and outstanding 1,350,000
Paid in capital in excess of par- common 2,400,000

My question is,
how did they get the 2,400,000?

Paid in capital
preferred stock, 5%, 5 par,650,000 shares authorized, 280,000 shares issued $1,400,000
common stock, par value $1 per share, 5,000,000 shares authorized, 1,350,000 shares issued and outstanding 1,350,000
Paid in capital in excess of par- common 2,400,000

My question is,
how did they get the 2,400,000?

It is just part of the question

the par value is $1 per share, in excess of par means a premium was paid