Question: On its December 31, 2014, income statement, Durango reported a loss on sale of stock of $4,500. The loss resulted from the sale of 2,000

On its December 31, 2014, income statement, Durango reported a loss on sale of stock of $4,500. The loss resulted from the sale of 2,000 shares of ABC Corp. stock that Durango purchased during 2014 at $25 per share, excluding $500 in commissions to buy the shares.

Required
Determine the amount of cash Durango received from the sale of the ABC stock.

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