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Sheffield Corporation began business by issuing 401000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained

image text in transcribed Sheffield Corporation began business by issuing 401000 shares of $5 par value common stock for $24 per share. During its first year, the corporation sustained a net loss of $39200. The year-end balance sheet would show Common stock of $9624000. Total paid-in capital of $7619000. Total paid-in capital of $9584800. O Common stock of $2005000

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