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, $4 par value, 80,000 shares authorized. During the first year, the following selected transactions were completed: a. Sold 53,000 shares of common stock for cash at $42 per share. b. Repurchased 9,000 shares from a stockholder for cash at $44 per share. Required: 1. Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1. 2 Sold 53,000 shares of common stock for cash at $42 per share. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 2 Repurchased 9,000 shares from a stockholder for cash at $44 per share. Note: Enter debits before credits. Transaction b. General Journal Debit Credit Record entry Clear entry View general journal 2. Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to be deducted should be indicated with a minus sign.) Stockholders' equity: Contributed Capital: Stockholders' Balance Sheet (Partial) At End of This Year: Total contributed capital Total stockholders' equity