Global Marine obtained a charter from the state in January 2013, which authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $320,000 of net income and the following selected transactions occurred in the order given:

a. Issued 100,000 shares of the common stock at $47 cash per share.

b. Reacquired 17,000 shares at $42 cash per share.

c. Reissued 6,000 shares from treasury for $43 per share.

d. Reissued 6,000 shares from treasury for $41 per share.

Prepare the stockholders equity section of the balance sheet at December 31, 2013.