Question: QS 12-9 Computing financing cash flows LO P3 The following selected information is from Princeton Company's comparative balance sheets. At December 31 Common stock, $10

QS 12-9 Computing financing cash flows LO P3 The following selected information is from Princeton Company's comparative balance sheets. At December 31 Common

QS 12-9 Computing financing cash flows LO P3 The following selected information is from Princeton Company's comparative balance sheets. At December 31 Common stock, $10 par value Paid-in capital in excess of par Retained earnings 2017 2016 $ 105,000 100,000 567,000 342,000 13,500 287,500 The company's net income for the year ended December 31, 2017, was $48,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during 2017. Common Stock, $10 Par Beg. bal. 100,000 End. bal. 100,000

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