Required information E11-5 (Algo) Reporting Stockholders' Equity and Determining Dividend Policy LO11-1, 11-3, 11-4, 11-7 [The following information applies to the questions displayed below.] Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $14 par value, 13,300 shares authorized. During the year, the following selected transactions were completed: a. Sold 6,100 shares of common stock for cash at $28 per share. b. Sold 2,700 shares of common stock for cash at $33 per share. c. At year-end, the company reported net income of $6,600. No dividends were declared. 2. Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated by a minus sign