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Morris is trying to determine the amount of his company's paid-in capital after its first quarter of operations. Morris knows that total assets at the

Morris is trying to determine the amount of his company's paid-in capital after its first quarter of operations. Morris knows that total assets at the end of the first quarter equaled $25,000, and that stockholders' equity was $17,400 at that time. He also knows that the net income was $6,200 and there were no dividends. What is the paid-in capital?

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