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Jordans net income for the year ended December 31, Year 2 was $195,000. Information from Jordans comparative balance sheets is given below. Compute the cash

Jordans net income for the year ended December 31, Year 2 was $195,000. Information from Jordans 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 $ 510,000 $ 459,000
Paid-in capital in excess of par 958,000 862,000
Retained earnings 698,000 591,000

Multiple Choice

  • $147,000.

  • $51,000.

  • $107,000.

  • $195,000.

  • $96,000.

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