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Amount of the net new equity

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Pinkel Properties LLC is a manager of football arenas in the Columbia community. It has net income for the year of $11,500. At the beginning of the year, they had common stock of $86,644, paid-in surplus of $152,523, and accumulated retained earnings of $29,000. At the end of the year, Pinkel Properties had common stock of $104,193, paid-in capital of $173,519, and accumulated retained earnings of $40,500. Pinkel Properties does not pay dividends. What is the amount of the net new equity raised during the year?

Reference no: EM131195823

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