QS 12-9 Computing financing cash flows LO P3 The following selected 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 2017 2016 $ 146,000 $ 136,000 603,000 360,000 349,500 323,500 The company's net income for the year ended December 31, 2017, was $66,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during 2017. Beg. bal. Common Stock, $10 Par 136,000 10,000 Issuance of common stock End. bal. 146,000 Beg. bal. Paid-in Capital in Excess of Par 323,500 2,600 Issuance of common stock End. bal. 326,100 Cash received 2. Complete the T-account to calculate the cash paid for dividends during 2017 Retained Earnings Beg. bal. End. bal. 0