Bagwell's Net Income for the Year Ended December 31, Year

Multiple Choice

Bagwell's net income for the year ended December 31, Year 2 was $185,000. Information from Bagwell's comparative balance sheets is given below. Compute the cash received from the sale of its common stock during Year 2. $$\begin{array} { | l | l | l | } \hline \text { At December 31 } & { \text { Year 2 } } & \text { Y ear 1 } \\\hline \text { Common Stock, \$5 par value } & \$ 500,000 & \$ 450,000 \\\hline \text { Paid-in capital in excess of par } & 948,000 & 853,000 \\\hline \text { Retained eargings } & 688,000 & 582,000 \\\hline\end{array}$$

A) $145,000.
B) $50,000.
C) $95,000.
D) $106,000.
E) $185,000.