Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, par value $17 per share, 12,900 shares authorized. During the year, the following selected transactions were completed:

a.	Sold and issued 7,200 shares of common stock for cash at $34 per share.
b.	Sold and issued 2,000 shares of common stock for cash at $39 per share.
c.	At year-end, the accounts reflected income of $7,900. No dividends were declared.

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
Total contributed capital	0
Total stockholders' equity