Multiple Choice
Superior has provided the following information for its recent year of operation: The common stock account balance at the beginning of the year was $20,000 and the year-end balance was $25,000.
The additional paid-in capital account balance increased $2,500 during the year.
The retained earnings balance at the beginning of the year was $75,000 and the year-end balance was $91,000.
Net income was $26,000.
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How much did Superior sell its common stock for during the year?
A) $5,000.
B) $2,500.
C) $7,500.
D) $27,500.
Correct Answer:

Verified
Correct Answer:
Verified
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