P11-5 (Algo) Preparing the Stockholders' Equity Section after Selected Transactions LO11-1, 11-3, 11-7 United Resources Company obtained a charter from the state in January of this year. The charter authorized 214,000 shares of common stock with a par value of $2. During the year, the company earned $479,000. Also during the year, the following selected transactions occurred in the order given: a. Sold 86,000 shares of the common stock in an initial public offering for $15 per share. b. Repurchased 28,000 shares of the previously issued shares for $18 per share and is holding them as treasury stock. c. Resold 6,000 shares of treasury stock for $21 per share. Required: Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated with a minus sign. Stockholders' equity: Contributed capital: UNITED RESOURCES COMPANY Balance Sheet (Partial) At December 31, This year Total contributed capital Total stockholders' equity