Question
Hot Dogs and Hamburgers International had $250,000 in cash on the balance sheet at the beginning of the year.At year-end, the company had $200,000 in
Hot Dogs and Hamburgers International had $250,000 in cash on the balance sheet at the beginning of the year.At year-end, the company had $200,000 in cash.We know cash flow from operating activities totaled $1,566,225, and cash flow from long-term investing activities totaled -$2,087,175.Furthermore, Foley issued $478,750 in long-term debt during the year to fund new projects and increase liquidity.If dividends paid to stockholders equaled $187,250, how much common stock did Foley issue during the year?(Assume that the only financing activities in which Foley engaged involved long-term debt, payment of dividends, and common stock.)
a.$159,250
b.$179,450
c.$229,450
d.$279,450
e.$470,950
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