The following selected information is from Princeton Company’s comparative balance sheets.

At December 31	2016			2015
Common stock, $10 par value	$	131,000		$	126,000
Paid-in capital in excess of par		593,000			355,000
Retained earnings		339,500			313,500

The company’s net income for the year ended December 31, 2016, was $61,000.

1. Complete the below table to calculate the cash received from the sale of its common stock during

Common Stock, $10 Par Paid-in Capital in Excess of Par

Beg. bal. Beg. bal.

Issuance of common stock

End. bal. 0 End. bal. 0

2. Complete the below table to calculate the cash paid for dividends during 2016.

Retained Earnings

Beg. bal.

2016 dividends

End. bal.