Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, $18 par value, 11,900 shares authorized. During the year, the following selected transactions were completed: a. Sold 6,200 shares of common stock for cash at $36 per share. b. Sold 2,100 shares of common stock for cash at $41 per share. c. At year-end, the company reported net income of $7,500. No dividends were declared. 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. Stockholders' equity Contributed capital: TARRANT CORPORATION Balance Sheet (Partial) At December 31, This year Total contributed capital Total stockholders' equity