Required information

$[$The following information applies to the questions displayed below.$]$

Whyville Corporation obtained its charter from the state in January that authorized $500,000$ shares of common stock, $$1$ par value. During the first year, the company earned $$48,000$ and declared no dividends; the following selected transactions occurred in the order given:

a$.$ Issued $100,000$ shares of the common stock at $$13$ cash per share.

b$.$ Reacquired $4,000$ shares at $$14$ cash per share to use as stock incentives for senior management.

$3.$ Prepare the stockholders' equity section of the balance sheet at December $31.($Amounts to be deducted should be indicated by a minus sign.$)$

$\backslash$table$[[$Balance Sheet $($Partial$)],[$At December $31],[$Stockholders$\text{'}$ Equity$],[$Contributed Capital:$],[],[F$