Incentive Corporation was authorized to issue $12,000$ shares of common stock, each with a $$1$ par value. During its first year, the following selected transactions were completed:

a$.$ Issued $6,800$ shares of common stock for cash at $$28$ per share.

b$.$ Issued $2,800$ shares of common stock for cash at $$31$ per share.

E$11-2($Algo$)$ Part $3$

$3.$ Prepare the stockholders' equity section as it should be reported on the year$-$end balance sheet. At year$-$end, the accounts reflected a profit of $$300.$

$\backslash$table$[[$INCENTIVE CORPORATION$],[$Balance Sheet $($Partial$)],[$At December $31,],[$Stockholders$\text{'}$ Equity$],[$Contributed Capital:,$],[,],[,],[,],[$Total Contributed Capital,$],[,]]$