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United Resources Company obtained a charter from the state in January...

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Accounting

United Resources Company obtained a charter from the state in January of this year. The charter authorized 200,000
shares of common stock with a par value of $1. During the year, the company earned $590,000. Also during the year, the
following selected transactions occurred in the order given:
a. Sold 100,000 shares of the common stock in an initial public offering for $12 per share.
b. Repurchased 20,000 shares of the previously issued shares for $15 per share and is holding them as treasury stock.
c. Resold 5,000 shares of treasury stock for $18 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.
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