Please detail the correct solution in each box.

Houghton Company began business on January 1, 2015 by issuing all of its 1,750,000 authorized shares of its $1 par value common stock for $34 per share. On June 30, Houghton declared a cash dividend of $2.25 per share to stockholders of record on July 31. Houghton paid the cash dividend on August 30. On November 1, Houghton reacquired 350,000 of its own shares of stock for $39 per share. On December 22, Houghton resold 175,000 of these shares for $45 per share.

b. Prepare the stockholders' equity section of the balance sheet as of December 31, 2015 assuming that the net income for the year was $10,000,000 HOUGHTON COMPANY Stockholders' Equity Balance Sheet as of 12/31/2015 Total Stockholders' Equilty