The following account balances relate to the stockholders'equity accounts of Gore Corp. at year-end.

2008	2007
Common stock, 10,500 and 10,000shares,
respectively, for 2008 and 2007	$160,000	$140,000
Preferred stock, 5,000 shares	125,000	125,000
Retained earnings	300,000	260,000

A small stock dividend was declared and issued in 2008. Themarket value of the shares was $10,500. Cash dividends were $15,000in both 2008 and 2007. The common stock has no par or statedvalue.

What was the amount of net income reported by Gore Corp. in2008?

$ Incorrect

Determine the amounts of any cash inflows or outflows relatedto the common stock and dividend accounts in 2008.

Cash inflow from the issue of stock was $.Incorrect

Cash outflow for dividends was $ 15,000 .Correct