The following selected information is from Princeton Companys comparative balance sheets. At December 31 2017 2016 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 companys net income for the year ended December 31, 2017, was $48,000. 1. Complete the T-accounts to calculate the cash received from the sale of its common stock during 2017.