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The following information is from Princeton Company's comparative balance sheets. The company's net income for the current year ended December 31 was $55,000. 1. Complete

The following information is from Princeton Company's comparative balance sheets. The company's net income for the current year ended December 31 was $55,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. 2. Complete the T-account to calculate the cash paid for dividends during the current year

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