At December 31 Common stock, $10 par value Paid-in capital in excess of par Retained earnings Current Prior Year Year $ 133,000 $ 124,000 591,000 354,000 337,500 311,500 The company's net income for the current year ended December 31 was $60,000. 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 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 the current year.. Retained Earnings Beg. bal. End. bal. Additional short-term borrowings Purchase of short-term stock investments Cash dividends paid Interest paid $ 54,000 13,700 $ 44,000 22,000 Compute cash flows from financing activities using the above company information. (Amounts to be deducted should be indicated by a minus sign.) Financing Activities Additional short-term borrowings Cash dividends paid 54,000 (44,000) I $ 10,000 Case X: $760,000 59,000 81,420 Case Y: Compute cash received from customers: Sales Accounts receivable, Beginning balance Accounts receivable, Ending balance Compute cash paid for rent Rent expense Rent payable, Beginning balance Rent payable, Ending balance Compute cash paid for inventory Cost of goods sold Inventory, Beginning balance Accounts payable, Beginning balance Inventory, Ending balance Accounts payable, Ending balance $144,600 11,050 9,724 Case 2: $682,000 211,420 88,796 173,364 110,107 For each of the above three separate cases, use the information provided about the current-year operations of Sahim Company to compute the required cash flow information. Assume all purchases and sales of inventory are on credit Case X: Case Y: Case Z: Cash received from customers Cash paid for rent Cash paid for inventory