E11-7 Reporting Stockholders' Equity LO11-1, 11-3 The following information applies to the questions displayed below Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock:common stock, $3 par value, 85,000 shares authorized. During the first year, the following selected transactions were completed: a. Sold 53,000 shares of common stock for cash at $49 per share. b. Repurchased 7,000 shares from a stockholder for cash at $51 per share