Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, par value $13 per share, 12,900 shares authorized. During the year, the following selected transactions were completed:

a.	Sold and issued 6,500 shares of common stock for cash at $26 per share.
b.	Sold and issued 1,900 shares of common stock for cash at $31 per share.
c.	At year-end, the accounts reflected income of $8,000. No dividends were declared.

Required: 1. Prepare the journal entries required to record the sale of common stock in (a) and (b). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Credit Debit 169,000 Cash 2. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet. (Amounts to be deducted should be indicated by a minus sign.) TARRANT CORPORATION Balance Sheet (Partial) At December 31, this year Stockholders' equity Contributed capital: Common stock $ Additional paid-in capital 109,200 Total contributed capital Retained earnings 109,200 6,500 Total stockholders' equity $ 115,700