QS 12-15 (Static) Computing financing cash flows LO P3

The following information is from Princeton Company’s comparative balance sheets.
At December 31 Current Year Prior Year
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 company’s net income for the current year ended December 31 was $48,000.

Complete the T-accounts to calculate the cash received from the sale of its common stock during the current year.