The following selected information is from Princeton Companys comparative balance sheets.

The following selected information is from Princeton Company's comparative balance sheets 2017 2016 At December 31 Common stock, $10 par value Paid-in capital in excess of par Retained earnings $ 120,000 110,000 577,000 347,000 323,500 297,500 The company's net income for the year ended December 31, 2017, was $53,000 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during 2017. Common Stock, $10 Par Beg. bal End. bal Paid-in Capital in Excess of Par Beg. bal End. bal Cash received 2. Complete the T-account to calculate the cash paid for dividends during 2017 Retained Earnings Beg. bal End. bal