At December 31	Current Year		Prior Year
Common stock, $10 par value	$	130,000	$	122,000
Paid-in capital in excess of par		589,000		353,000
Retained earnings		335,500		309,500

The companys net income for the current year ended December 31 was $59,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year.

The following At December 31 Common stock, $10 par value Paid-in capital in excess of par Retained earnings Current Prior Year Year $ 130,000 $ 122,000 589,000 353,000 335,500 309,500 The company's net income for the current year ended December 3 1. Complete the T-accounts to calculate the cash received from the stock during the current year. Common Stock, $10 Par Beg bal. Issuance of common stock End bal 0 Paid-in Capital in Excess of Par Beg bal End bal 0 Cash received