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Business, 09.07.2021 21:00 dawood2042

The following information is from Princeton Company's comparative balance sheets. At December 31 Current year Priro year
Common stock, $10 par value $124,000 118,000
Paid—in capital in excess of par 585,000 351,000
Retained earnings 331,500 305,500

The company's net income for the current year ended December 31 was $57,000.

Required:
Write down the T-accounts to calculate the cash received from the sale of its common stock during the current year.

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