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Use the following information about Genius, Inc. to address the question below: 1. Par value...

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Use the following information about Genius, Inc. to address the question below: 1. Par value of common stock is $1 per share. 2. Shares authorized: 10,000; Shares issued: 6,000 3. 2,000 shares of treasury stock were purchased for $10 per share; 600 of those shares were resold to outsiders for $22 per share. No other treasury stock transactions have occurred. 4. Total net income since inception: $250,000 5. Additional paid-in capital balance: $70,000 6. Dividends declared since inception: $160,000 What were the total proceeds received from Genius' initial issuance of common stock

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