2. Complete the T-account to calculate the cash paid for dividends during the current year. Beginning balance Ending balance Retained Earnings The following information is from Princeton Company's comparative balance sheets. At December 31 Common stock, $10 par value Current Year $ 140,000 Paid-in capital in excess of par Retained earnings 599,000 345,500 Prior Year $ 132,000 358,000 319,500 The company's net income for the current year ended December 31 was $64,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. Common Stock, $10 Par Beginning balance Ending balance Paid-in Capital in Excess of Par Beginning balance Ending balance Cash received