Reference no: EM132843933

Superior has provided the following information for its recent year of operation:

1. The common stock account balance at the beginning of the year was $20,000 and the year-end balance was $25,000.
2. The additional paid-in capital account balance increased $2,500 during the year.
3. The retained earnings balance at the beginning of the year was $75,000 and the year-end balance was $91,000.
4. Net income was $26,000.

Problem 1: How much did Superior sell its common stock for during the year?

Option 1: $5,000.
Option 2: $2,500.
Option 3: $7,500.
Option 4: $27,500.