The following selected information is from the Teeter Company’s comparative balance sheets.
|
At December 31 |
2011 |
2010 |
|
Common stock, $10 par value |
$310,000 |
$300,000 |
|
Paid in capital in excess of par |
1,134,000 |
684,000 |
|
Retained earnings |
627,000 |
575,000 |
The company’s net income for the year ended December 31, 2011, was $196,000.
1. Compute the cash received from the sale of its common stock during 2011.
2. Compute the cash paid for dividends during 2011.