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 $ 117,000 $ 108,000 575,000 346,000 321,500 295,500 The company's net income for the current year ended December 31 was $52,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year, The company's net income for the current year ended December 31 was $52,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year Answer is not complete. Common Stock, $10 Par Beg bal Issuance of common stock 108,000 9,000 End bal 117,000 Pald-in Capital in Excess of Par Beg bal Issuance of common stock 346.000 229.000 End bal 575,000 Cash received 2. Complete the T-account to calculate the cash paid for dividends during the current year.. Answer is complete but not entirely correct. Retained Earnings Beg bal. 295,500 Current year dividends 52,000 Current year net income 26,000 End, bal 269,500