QS 12-9 Computing financing cash flows LO P3 The following selected information is from Princeton Company's comparative balance sheets. 2017 Common stock, $10 par value Paid-in capital in excess of par Retained earnings $ 144,000 $140,000 607,000 362,000 53,500 327,500 The company's net income for the year ended December 31, 2017, was $68,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during 2017 Common Stock, $10 Par Beg. bal. 140,000 4,000 Issuance of common stock 144,000 End. bal. Paid-in Capital in Excess of Par Beg. bal. 362,000 245,000 1ssuance of common stock 607,000 End. bal. Cash received S 249,000 2. Complete the Taccount to calculate the cash paid for dividends during 2017. Retained Earnings Beg. bal End. bal