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 $ 124,000 $ 118,000 585,000 351,000 331,500 305,500 The company's net income for the current year ended December 31 was $57,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year. Common Stock, $10 Par Beg. bal. Dividends Issuance of common stock of Par Net income Purchase of treasury stock End, bal. 0 Cash received 2. Complete the T-account to calculate the cash paid for dividends during the current year.. Purchase of treasury stock End. bal. 0 Cash received 2. Complete the T-account to calculate the cash paid for dividends during the current year.. Retained Earnings Beg. bal. Cash Current year dividends Current year net income Current year net loss