Why distinguish between paid in capital and earned capital; which is more important.

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Why distinguish between paid in capital and earned capital; which is more important

Write a paper regarding owners equity and include in the paper:

1. Why is it important to keep paid in capital separate from earned capital?
2. As an investor, is paid in capital or earned capital more important? Why?
3. As an investor, are basic or diluted earnings per share more important? Why?

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