Question: QS 16-9 Computing financing cash flows LO P3 The following selected information is from Princeton Company's comparative balance sheets. At December 31 2017 2016 $

QS 16-9 Computing financing cash flows LO P3 The following selected information is from Princeton Company's comparative balance sheets. At December 31 2017

QS 16-9 Computing financing cash flows LO P3 The following selected information is from Princeton Company's comparative balance sheets. At December 31 2017 2016 $ 111,000 $ 104,000 571,000 317,500 Common stock, $10 par value Paid-in capital in excess of par Retained earnings 344,000 291,500 The company's net income for the year ended December 31, 2017, was $50,000. 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. End. bal. Paid-in Capital in Excess of Par Beg. bal. End. bal. 0 Cash received 2. Complete the T-account to calculate the cash paid for dividends during 2017 Retained Earnings Beg. bal End. bal

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