Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized...
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Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,600 shares of common stock for cash at $26 per share. b. Issued 2,600 shares of common stock for cash at $29 per share. 3. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet At year-end, the accounts reffected a profit of $100
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