The following information is from Princeton Company's comparative balance sheets. At December 31 Current Year Prior Year Common stock, $10 par value $ 105,000 $ 100,000 Paid-in capital in excess of par 567,000 342,000 Retained earnings 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 Beginning balance Issuance of common stock Ending balance Pald-in Capital in Excess of Par Beginning Balance Issuance of common stock Ending balance 0 Cash received $ 230,000 2. Complete the T-account to calculate the cash paid for dividends during the current year. Retained Earnings Beginning balance Ending balance 0