QS 12-9 Computing financing cash flows LO P3 The following selected information is from Princeton Company's comparative balance sheets At December 31 Paid-in capital in excess of 575,000 346,000 2017 2016 Common stock, $10 par value $117,000 $108,000 par Retained earnings 321, 500 295, 500 The company's net income for the year ended December 31, 2017, was $52,000 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during 2017 Common Stock, $10 Par Beg. bal End. bal Paid-in Capital in Excess of Par Beg. bal End. bal Cash received 2. Complete the T-account to calculate the cash paid for dividends during 2017