S 12-15 (Algo) 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 Current Year $ 108,000 Paid-in capital in excess of par Retained earnings 569,000 315,500 Prior Year $ 102,000 343,000 289,500 The company's net income for the current year ended December 31 was $49,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. Beginning balance Ending balance Common Stock, $10 Par 102,000 6,000 108,000 Paid-in Capital in Excess of Par Beginning balance 343,000 Issuance of common stock 226,000 Ending balance 569,000 Cash received 2. Complete the T-account to calculate the cash paid for dividends during the current year.. Retained Earnings Beginning balance 289,500 Current year dividends 26,000 Current year net loss 26,000 Ending balance 237,500