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 Year $ 127,000 587,000 333,500 Prior Year $ 120,000 352,000 307,500 The company's net income for the current year ended December 31 was $58,000. 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 Beginning balance 127,000 Ending balance 127,000 Paid-in Capital in Excess of Par Beginning balance Ending balance 0 Cash received 2. Complete the T-account to calculate the cash paid for dividends during the current year.. Retained Earnings Beginning balance Ending balance