(SOLVED)- The following selected information is from Princeton Company s comparative balance


Question Description:

$19

The following selected information is from Princeton Company’s comparative balance sheets.
At December 31 2017 2016
Common stock, $10 par value . . . . . . . . . . . . $105,000……$100,000
Paid-in capital in excess of par . . . . . . . . . . . . 567,000………342,000
Retained earnings . . . . . . . . . . . . . . . . . . . . . . 313,500………287,500
The company’s net income for the year ended December 31, 2017, was $48,000.
1. Compute the cash received from the sale of its common stock during 2017.
2. Compute the cash paid for dividends during 2017.

Answer

$19