! Required information [The following information applies to the questions displayed below.] Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $7 par value, 81,000 shares authorized. During the first year, the following selected transactions were completed: a. Sold 63,000 shares of common stock for cash at $58 per share. b. Repurchased 2,000 shares at $60 per share. 2. Prepare the stockholders' equity section of the balance sheet at the end of the year. Assume retained earnings at the end of the year was $230,000. Note: Amounts to be deducted should be indicated with a minus sign. Stockholders' equity: Contributed capital: Common stock WILLIAMSON CORPORATION Balance Sheet (Partial) At End of This Year 6