Question: The following selected information is from the Tanner Companys comparative balance sheets. The companys net income for the year ended December 31, 2009, was $96,000.

The following selected information is from the Tanner Company€™s comparative balance sheets.

The company€™s net income for the year ended December 31, 2009, was $96,000.
1. Compute the cash received from the sale of its common stock during 2009.
2. Compute the cash paid for dividends during2009.

At December 31 Common stock, $10 par value.210,000 $200,000 Pald-In capital In excess of par . 1,134,000 684,000 Retalned earnings627,000 575.000 2009 2008

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