QS 16-9 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 $ 115,000 $ 112, eee 579,000 348,000 325,5ee 299,500 The company's net income for the year ended December 31, 2017, was $54,000, 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during 2017, Common Stock, $10 Par Bog, bal End. bal. Paid-in Capital in Excess of Par Beg, 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