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 $ 105,000 $100,000 567,000 342,000 313,500 287,500 The company's net income for the current year ended December 31 was $48,000. 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. End. bal. 0 Pald-in Capital in Excess of Par Beg. bal End. bal. Cash received Camalete the T.Drunt in calculate the rach nan for denne durinn the purrant saar Cash received 2. Complete the T-account to calculate the cash paid for dividends during the current year. Retained Earnings Beg. bal. End. bal. 0