8:42 The following information pertains to Ming Corp. at January 1, Year 2: Common stock, $8 par, 49,000 shares authorized, 3,100 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $ 24,800 100,500 100,500 Ming Corp. completed the following transactions during Year 2: 1. Issued 2,400 shares of $8 par common stock for $13 per share. 2. Repurchased 1,500 shares of its own common stock for $16 per share. 3. Resold 900 shares of treasury stock for $18 per share. 4. Earned $59,500 of cash revenue. 5. Paid $42,200 of cash operating expenses. Required Prepare the stockholders' equity section of the year-end balance sheet. MING CORPORATION Balance Sheet (Partial) Stockholders' Equity Total paid-in capital As of December 31, Year 2 Total stockholders' equity $ 10 + $ 0 0