Question: The following selected information is from the Teeter Company's comparative balance sheets.
At December 31 2011 2010
Common stock, $10 par value . . . . . . . . . $ 310,000 $300,000
Paid-in capital in excess of par . . . . . . . . . 1,134,000 684,000
Retained earnings . . . . . . . . . . . . . . . . . . . 627,000 575,000
The company's net income for the year ended December 31, 2011, was $196,000.
1. Compute the cash received from the sale of its common stock during 2011.
2. Compute the cash paid for dividends during 2011.