Cèdre SA issues new shares for gross proceeds of 2,400,000. It incurs 85,000 of brokerage, legal advice and registration costs, directly attributable to the issue and that would have been avoided without it, and 20,000 of corporate communication costs with no direct link to the issue (case data). No tax effect is to be taken into account (case data). Calculate the net amount recorded in equity after the issue.
- Gross proceeds of the issue
- 2,400,000
- Incremental costs directly attributable to the issue
- 85,000
- Corporate communication costs with no direct link to the issue
- 20,000