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

At December $31$ Current Year Prior Year

Common stock, $$10$ par value $ $131,000$ $ $126,000$

Paid$-$in capital in excess of par $593,000355,000$

Retained earnings $339,500313,500$

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

Complete the T$-$accounts to calculate the cash received from the sale of its common stock during the current year.

Complete the T$-$account to calculate the cash paid for dividends during the current year.