Q7

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 $ 131,000 593,000 339,509 2016 $126,000 355,000 313,500 eBook Print The company's net income for the year ended December 31, 2017, was $61.000. References 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during 2017 Bog bal Common Stock, $10 Par 120,000 131,000 5,000 fissuance of common stock End bal 6.000 Paid-in Capital in Excess of Par Beg bal End bal Cash received