7. 27 Whyville Corporation obtained its charter from the state in January that authorized 500,000 shares of common stock. $1 par value. During the first year, the company earned $63,000 and declared no dividends; the following selected transactions occurred in the order given: a. Issued 250,000 shares of the common stock at $28 cash per share, b. Reacquired 5,500 shares at $29 cash per share to use as stock incentives for senior management. 3. Prepare the stockholders' equity section of the balance sheet at December 31. (Amounts to be deducted should be indicated by a minus sign.) Contributed Capital WHYVILLE CORPORATION Balance Sheet (Partial) At December 31 Stockholders' Equity Total Contributed Capital 0 4 Total 0 Total Stockholders' Equity S 0