1 Homework Worldwide Company obtained a charter from the state in January that authorized 200,000 shares of common stock, $10 par value. During the first year, the company earned $39,200, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 70,000 shares of the common stock at $11 cash per share. b. Reacquired 3,000 shares at $14 cash per share from stockholders; the shares are now held in treasury. c. Reissued 1,500 of the shares in transaction (b) two months later at $17 cash per share. 3. Prepare the stockholders' equity section of the balance sheet at December 31. TIP: Because this Retained Earnings has a zero balance at the beginning of the year. (Amounts to be deducted s is the first year of operations, hould be indicated by a minus sig E COMPA Balance Sheet (Partial) ber 31 Stockholders' Equity Contri Capital: Additional Paid-In Capital, Common Stock Total Contributed Capital Total