Required Information E1-5 (Algo) Reporting Stockholders' Equity and Determining Dividend Policy L011-1, 11-3, 114, 11-7 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, 511 par value, 12,600 shares authorized. During the year, the following selected transactions were completed: a. Sold 6.000 shares of common stock for cash at $22 per share. b. Sold 2,600 shares of common stock for cash at $27 per share c. At year-end, the accounts reflected income of $7,700. No dividends were declared. E11-5 Part 2 2. Prepare the stockholders equity section as it should be reported on the year-end balance sheet (Amounts to be deducted should be Indicated by a minus sign.) TARRANT CORPORATION Balance Sheet(Partit At December 31, This year Stockholders equity Contributed capital: Total contributed capital Total stockholdersley