During the year, Erickson's Furniture, Inc. issued 3,000 shares of its
$0.50
stated value common stock for
$25
per share, and declared and paid cash dividends totaling
$0.25
per share. By what amount does contributed capital increase as a result of these events? Select one: a.
$75,000
b.
$74,250
c.
$1,500
d.
$44,250

Question

During the year, Erickson's Furniture, Inc. issued 3,000 shares of its

$0.50

stated value common stock for

$25

per share, and declared and paid cash dividends totaling

$0.25

per share. By what amount does contributed capital increase as a result of these events? Select one: a.

$75,000

b.

$74,250

c.

$1,500

d.

$44,250

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