illiamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $8 par value, 84,000 shares authorized. During the first year, the following selected transactions were completed:

Jounral entry 1 - Sold 61,000 shares of common stock for cash at $55 per share.

jounral entry 2 - Repurchased 3,000 shares at $57 per share.

BALNACE SHEET INCLUDED

Williamson Corporation Balance Sheer (Partial) At end of this year
Stockholders' equity:
Total Contributed Capital
Total Stockholders' equity