Help Save & B Required Homework i Saved es ! Required information [The following information applies to the questions displayed below.] Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $14 par value, 11,900 shares authorized. During the year, the following selected transactions were completed: a. Sold 6,400 shares of common stock for cash at $28 per share. b. Sold 1,800 shares of common stock for cash at $33 per share. c. At year-end, the company reported net income of $7,200. No dividends were declared. 2. Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated by a minus sign. Stockholders' equity Contributed capital: Common stock TARRANT CORPORATION Balance Sheet (Partial) At December 31, This year < Prev 6 G6 of 8 Next >> Che 12 No dividends were declared. 2. Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated by a minus sign. ok Stockholders' equity t ces TARRANT CORPORATION Balance Sheet (Partial) At December 31, This year Contributed capital: Common stock Additional paid-in capital Total contributed capital 0 Total stockholders' equity $ 0 0 Search < Prev 6 of 8 Next C