Blasco Printing Has Net Income of $26,310 for the Year

Multiple Choice

Blasco Printing has net income of $26,310 for the year. At the beginning of the year, the firm had common stock of $35,000, paid-in surplus of $11,200, and retained earnings of $48,420. At the end of the year, the firm had total equity of $142,430. The firm does not pay dividends. What is the amount of the net new equity raised during the year?

A) $18,000
B) $21,500
C) $32,700
D) $48,900
E) $48,310