Preparing the Stockholders' Equity Section after Selected Transaction I united Resources Company obtained a charter from the state in January 2014, which authorized 200,000 shares of common stock, $1 par value. During the first year, the company earned $590,000 and the following selected transactions occurred in the order given: Sold 100,000 shares of the common stock in an initial public offering at $12 per share. Repurchased 20,000 shares of the previously issued shares at $15 cash per share for treasury stock. Resold 5,000 of the shares of the treasury stock at $18 cash per share. Required: Prepare the stockholders' equity section of the balance sheet at December 31,2014