Williamson Corporation was organized to operate a tax preparation business The charter authorized the following stock common stock, $7 par value, 81,000 shares authorized During the first year, the following selected transactions were completed a Sold 63,000 shares of common stock for cash at $58 p...

Heres how you would prepare the stockholders equity section of the balance sheet bas ...

Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common

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Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $7 par value, 81,000 shares authorized. During the first year, the following selected transactions were completed:
a. Sold 63,000 shares of common stock for cash at $58 per share.
b. Repurchased 2,000 shares at $60 per share.
Required:
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.