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Worldwide Company obtained a charter from the state in January that authorized $200,000$ shares of common stock, $$10$ par value. During the first year, the company earned $$37,600$ and declared no dividends; the following selected transactions occurred in the order given:

Issued $54,000$ shares of the common stock at $$11$ cash per share.

Repurchased $1,400$ shares at $$14$ cash per share from stockholders; the shares are now held in treasury.

Reissued $700$ of the shares in transaction $($b$)$ two months later at $$17$ cash per share.

Prepare the stockholders$$ equity section of the balance sheet at December $31.$ TIP: Because this is the first year of operations, Retained Earnings has a zero balance at the beginning of the year. $($Amounts to be deducted should be indicated by a minus sign.$)$