Answered: What were the total proceeds from the…

What were the total proceeds from the common-stock sale? Total proceeds $enter the total proceeds from the common-stock sale in dollars

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Problem A,

An online medical advice company just completed an IPO with an investment bank on a firm-commitment basis. The firm issued five million shares of common stock, and the underwriting fees were $1.90 per share. The offering price was $25.10 per share.

What were the total proceeds from the common-stock sale?

Total proceeds

$enter the total proceeds from the common-stock sale in dollars

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