! Required Information E11-2 (Algo) Reporting Stockholders' Equity and Determining Dividend Policy (LO 11-2, LO 11-3) (The following information applies to the questions displayed below.) Incentive Corporation was authorized to Issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 5,500 shares of common stock for cash at $20 per share. b. Issued 1,500 shares of common stock for cash at $23 per share. E11-2 (Algo) Part 3 3. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet. At year-end, the accounts reflected a profit of $100. INCENTIVE CORPORATION Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital