Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $16 par value, 13,000 shares authorized. During the year, the following selected transactions were completed: a. Sold 7,300 shares of common stock for cash at $32 per share. b. Sold 1,400 shares of common stock for cash at $37 per share. c. At year-end, the company reported net income of $6,800. No dividends were declared. E11-5 Part 2 2. Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated by a minus sign