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the following selected information is from the teeter company s comparative balance 648199

The following selected information is from the Teeter Company’s comparative balance sheets.

At December 31

2011

2010

Common stock, $10 par value

$310,000

$300,000

Paid in capital in excess of par

1,134,000

684,000

Retained earnings

627,000

575,000

The company’s net income for the year ended December 31, 2011, was $196,000.

1. Compute the cash received from the sale of its common stock during 2011.

2. Compute the cash paid for dividends during 2011.

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