Superior has provided the following information for its recent year of operation: The common stock account balance at the beginning of the year was $17,000 and the year-end balance was $18,500. The additional paid-in capital account balance increased $4,200 during the year. The retained earnings balance at the beginning of the year was $95,000 and the year-end balance was $96,000. Net income was $43,000. How much did Superior sell its common stock for during the year?
Superior has provided the following information for its recent year of operation: The common stock account balance at the beginning of the year was $17,000 and the year-end balance was $18,500. The additional paid-in capital account balance increased $4,200 during the year. The retained earnings balance at the beginning of the year was $95,000 and the year-end balance was $96,000. Net income was $43,000. How much did Superior sell its common stock for during the year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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| Superior has provided the following information for its recent year of operation: |
|
The common stock account balance at the beginning of the year was $17,000 and the year-end balance was $18,500. |
| The additional paid-in capital account balance increased $4,200 during the year. |
|
The |
| Net income was $43,000. |
| How much did Superior sell its common stock for during the year? |
Transcribed Image Text:Multiple Choice
O
O
$1,500.
$18,500.
$5,700.
$4,200.
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