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Business, 24.06.2020 18:01 myleswatts1

The following information is from ABC Company’s comparative balance sheets. At December 31 Current Year Prior Year Common stock, $10 par value $ 137,000 $ 130,000 Paid-in capital in excess of par 597,000 357,000 Retained earnings 343,500 317,500 The company’s net income for the current year ended December 31 was $63,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year.

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