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Business, 02.12.2019 22:31 smithmorgan773p35885

Trans world publishing was recently organized as a corporation. the company issued common stock to an attorney who provided legal services worth $ 25 comma 000 to with the incorporation. trans world also issued common stock to an inventor in exchange for her patent with a market value of $ 84 comma 000. in addition, trans world received cash both for the issuance of 4 comma 000 shares of its preferred stock at $ 70 per share and for the issuance of 23 comma 000 of its common shares at $ 3 per share. during the first year of operations, trans world earned net income of $ 72 comma 000 and declared a cash dividend of $ 22 comma 000.

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