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 Prior Year Year $120,000 $110,000 577,000 347,000 323,500 297,500 The company's net income for the current year ended December 31 was $53,000 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 Paid in Capital in Excess of Par Beg. bal End, bal Cash received 2. Complete the T-account to calculate the cash paid for dividends during the current year. Retained Earnings Beg bal End, bal