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4. WESIT issued common stock and received $32,000,000. The par value of the WESIT stock was only $32,000. Is the excess amount of $31,968,000 a

4. WESIT issued common stock and received $32,000,000. The par value of the WESIT stock was only $32,000.

Is the excess amount of $31,968,000 a profit to WESIT? Does the excess affect net income? If not, what was it?

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