The equity part of the statement of financial position for a limited company at 1 January is given below: ordinary shares at $2 each $450000 retained earnings amounting to $150000 On 28 February, the company carried out a rights issue of 1 new share for every 3 existing shares held, at a premium of $1.50 per share. The rights issue was fully subscribed. What cash amount was received from the rights issue?
- A$112500
- B$225000
- C$262500
- D$525000