1A. Leslie Printing has net income of $26,310 for the year. At the beginning of the year, the firm had common stock of $55,000,

paid-in surplus of $11,200, and retained earnings of $48,420. At the end of the year, the firm had total equity of $142,430.

The firm paid dividends of $32,500.

What is the amount of the net new equity raised during the year?