15 QS 16-15 Computing financing cash flows LO P3 3.44 points The following information is from Princeton Company's comparative balance sheets. At December 31 Comnon stock, $10 par value Paid-in capital in excess of par Retained earnings Current Prior Year Year $ 127,000 $120,000 587,000 352,000 333,500 307,500 The company's net income for the current year ended December 31 was $58,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. Answer is complete and correct. Common Stock. $10 Par Beg, bal Issuance of common stock 120,000 7,000 End, bal 127.000 Paid in Capital in Excess of Par Bogbal Issuance of common stock 352,000 235,000 End, bal 587,000 Cash received $ 242,000 2. Complete the T-account to calculate the cash paid for dividends during the current year.. Answer is not complete. Retained Earnings Beg, bal Cash End, bal 0