E11-7 (Algo) Reporting Stockholders' Equity LO11-1, 11-3, 11-7 Williamson Corporation's Board authorized 87,000 shares of common...

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E11-7 (Algo) Reporting Stockholders' Equity LO11-1, 11-3, 11-7 Williamson Corporation's Board authorized 87,000 shares of common stock with $4 par value. During the first year, Williamson: a. Sold 58,000 shares of common stock for cash at $40 per share. b. Repurchased 3,000 shares at $42 per share. E11-7 Part 2 2. Prepare the stockholders' equity section of the balance sheet at the end of the year. Assume retained earnings at the end of the year was $230,000. Note: Amounts to be deducted should be indicated with a minus sign. Stockholders' equity Contributed capital WILLIAMSON CORPORATION Balance Sheet (Partial) At End of This Year Total contributed capital $ Total stockholders' equity 3 0 E11-7 (Algo) Reporting Stockholders' Equity LO11-1, 11-3, 11-7 Williamson Corporation's Board authorized 87,000 shares of common stock with $4 par value. During the first year, Williamson: a. Sold 58,000 shares of common stock for cash at $40 per share. b. Repurchased 3,000 shares at $42 per share. E11-7 Part 2 2. Prepare the stockholders' equity section of the balance sheet at the end of the year. Assume retained earnings at the end of the year was $230,000. Note: Amounts to be deducted should be indicated with a minus sign. Stockholders' equity Contributed capital WILLIAMSON CORPORATION Balance Sheet (Partial) At End of This Year Total contributed capital $ Total stockholders' equity 3 0