oblem Solving Seved QS 16-15 Computing financing cash flows LO P3 The following information is from Princeton Company's comparative balance sheets. At December 31 Common stock, $10 par value Paid-in capital in excess of par Retained earnings Current Year Prior Year $117,000 $100,000 575,000 346,000 321,500 295,500 The company's net income for the current year ended December 31 was $52,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. Common Stock, $10 Par Beg bal End. bal. Beg bal End bal Cash received Paid-in Capital in Excess of Par 2. Complete the T-account to calculate the cash paid for dividends during the current year.. ed End. bal. Beg. bal. 0 Paid-in Capital in Excess of Par End. bal. Cash received 0 ces 2. Complete the T-account to calculate the cash paid for dividends during the current year.. Retained Earnings Beg. bal End. bal. 0