The following selected information is from princeton company’s comparative balance sheets. at december 31 2017 2016 common stock, $10 par value $ 120,000 $ 110,000 paid-in capital in excess of par 577,000 347,000 retained earnings 323,500 297,500 the company’s net income for the year ended december 31, 2017, was $53,000. 1. complete the t-accounts to calculate the cash received from the sale of its common stock during 2017.

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