Gonzalez Associates Inc. had $200,000 in cash on the balance sheet at the beginning of the year. At year-end, the company had $100,000 in cash. We know cash flow from operating activities totaled $525,000, and cash flow from long-term investing activities totaled -$1,150,000. Furthermore, Gonzalez issued $450,000 in long-term debt during the year to fund new projects and increase liquidity. If dividends paid to stockholders equaled $300,000, how much common stock did Gonzalez issue during the year? (Assume that the only financing activities in which Gonzalez engaged involved long-term debt, payment of dividends, and common stock.)
a. $290,000
b. $375,000
c. $420,000
d. $485,000
e. $510,000