QS 16 15 (Algo) Computing financing cash flows LO P3 The following information is from Princeton Companys comparative balance sheets At December 31 Current Year Prior Year Common stock, $10 par value $ 130,000 $ 122,000 Paid in capital in excess of par 589,000 353,000 Retained earnings 335,500 309,500 The companys net income for the current year ended December 31 was $59,000 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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Question: QS 16-15 (Algo) Computing financing cash flows LO P3 The following information is from Princeton Companys comparative balance sheets. At December 31 Current Year Prior

QS 16-15 (Algo) Computing financing cash flows LO P3

The following information is from Princeton Companys comparative balance sheets.

At December 31	Current Year	Prior Year
Common stock, $10 par value	$ 130,000	$ 122,000
Paid-in capital in excess of par	589,000	353,000
Retained earnings	335,500	309,500

The companys net income for the current year ended December 31 was $59,000. 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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