Jordan's net income for the year ended December 31, Year 2 was $203,000. Information from Jordan's comparative balance sheets is given below. Compute the cash received from the sale of its common stock during Year 2. At December 31Year 2Year 1Common Stock, $5 par value$518,000? $466,200? Paid-in capital in excess of par 966,000? 869,200? Retained earnings 706,000? 598,200?
A. $203,000.
B. $148,600.
C. $96,800.
D. $107,800.
E. $51,800.
Answer: B
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