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Compute the cash received from the sale of its common stock

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Question - Bagwell's net income for the year ended December 31, Year 2 was $185,000. Information from Bagwell's comparative balance sheets is given below. Compute the cash received from the sale of its common stock during Year 2.

At December 31

Year 2

Year 1

Common Stock, $5 par value

$500,000

$450,000

Paid-in capital in excess of par

948,000

853,000

Retained earnings

688,000

582,000

Reference no: EM132084916

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