P11-5 (Algo) Preparing the Stockholders' Equity Section after Selected Transactions LO11-1, 11-3, 11-7 United Resources Company obtained a charter from the state in January of this year. The charter authorized 211,000 shares of common stock with a par value of $1. During the year, the company earned $486,000 Also during the year, the following selected transactions occurred in the order given: a. Sold 85,000 shares of the common stock in an initial public offering for $18 per share. b. Repurchased 26.000 shares of the previously issued shares for $21 per share. c. Resold 10,000 shares of treasury stock for $24 per share. Required: Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to be deducted should be indicated with a minus sign.) UNITED RESOURCES COMPANY Balance Sheet (Partial) At December 31, This year Stockholders' equity Contributed capital Total contributed capital UNITED RESOURCES COMPANY Balance Sheet (Partial) At December 31, This year Stockholders' equity: Contributed capital: Total contributed capital Total contributed capital and retained earnings Total stockholders' equity