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

At December 31	2017		2016
Common stock, $10 par value	$	121,000	$	116,000
Paid-in capital in excess of par		583,000		350,000
Retained earnings		329,500		303,500

The companys net income for the year ended December 31, 2017, was $56,000.

The following selected information is from Princeton Company's comparative balance sheets At December 31 Common stock, $10 par value Paid-in capital in excess of par583,000 350,000 Retained earnings 2017 2016 $121,000 $116,000 329,500 303,500 The company's net income for the year ended December 31, 2017, was $56,000. 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 0