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The following selected information is from Princeton Company's comparative balance sheets. At December 31 Common...

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Accounting

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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 par Retained earnings 2017 2016 $ 127,000 $ 120,000 587,000 352,000 333,500 307,500 The company's net income for the year ended December 31, 2017, was $58,000. 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. Pald-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. L o

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