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, $9 par value, 88,000 shares authorized. During the first year, the following selected transactions were completed: a. Sold 54,000 shares of common stock for cash at $53 per share. b. Repurchased 7,000 shares at $55 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 $210,000. Note: Amounts to be deducted should be indicated with a minus sign