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, 13,400 shares authorized. During the year, the following selected transactions were completed:

a.

Sold and issued 6,100 shares of common stock for cash at $34 per share.

b.

Sold and issued 1,200 shares of common stock for cash at $39 per share.

c.

At year-end, the accounts reflected income of $6,100. No dividends were declared. Prepare the stockholders equity section as it should be reported on the year-end balance sheet.

TARRANT CORPORATION
Balance Sheet (Partial)
At December 31, this year
Stockholders equity
Contributed capital:
Additional paid-in capital
Common stock	124,100
Total contributed capital	124,100
Retained earnings	6,100
Total stockholders' equity