The following information is from Princeton Company's comparative balance sheets. At December 31 Common stock, $10 par value Paid-in capital in excess of par Retained earnings Current Prior Year Year $ 118,800 $ 114,000 581,000 349, eee 327,500 301,500 The company's net income for the current year ended December 31 was $55,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. Common Stock, S10 Par Beg bal 114,000 4,000 End, bal 118,000 Paid-in Capital in Excess of Par Beg bal 349,000 232,000 Endbal 581.000 Cash received $ 236,000 2. Complete the T-account to calculate the cash paid for dividends during the current year.. 301,500 Retained Earnings Beg, bal. Current year net income Current year net income 29,000 55,000 End, bal 327,500