B QS 12-15 (Algo) Computing financing cash flows LO P3 S The following information is from Princeton Company's comparative balance sheets. At December 31 Current Year Prior Year Common stock, $10 par value $ 140,000 $ 132,000 Paid-in capital in excess of par 599,000 358,000 Retained earnings 345,500 319,500 The company's net income for the current year ended December 31 Tras $64,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. eBook Hint Common Stock, 510 Par Beginning balance Retirement of common stock ASK 140,000 References Ending balance 140,000 Paid-in Capital in Excess of Par Beginning balance Ending balance 0 Cash received