1. Quality Corporation reports the following information in its January 1, 2014, balance sheet: Stockholders' equity Common stock, $8 par value, 42,000 shares authorized, 27,000 shares issued and outstanding Paid-in capital in excess of par value $ 216,000 135,800 143,500 Retained earnings Total stockholders' equity $ 495,300 During 2014, Quality was affected by the following accounting events 1. Purchased 1,300 shares of treasury stock at $16 per share. 2. Reissued 780 shares of treasury stock at $18 per share. 3. Earned $52,200 of cash revenues 4. Paid $36,700 of cash operating expenses. Required Prepare the stockholders' equity section of the year-end balance sheet. QUALITY CORPORATION Balance Sheet (Partial) As of December 31, 2014 Stockholders' Equity Total paid-in capital Total stockholders' equity