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Question - Computing financing cash flows - The following information is from Princeton Company's comparative balance sheets.
At December 31 Current Year Prior Year
Common stock, $10 par value $114,000 $106,000
Paid-in capital in excess of par 573,000 345,000
Retained earnings 319,500 293,500
The company's net income for the current year ended December 31 was $51,000.
Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year.
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