The following Information pertains to Ming Corp. at January 1, Year 2: Common stock, $11 par, 49,000 shares authorized, 2,900 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $31,900 69,900 69,900 Ming Corp. completed the following transactions during Year 2: 1. Issued 2,000 shares of $11 par common stock for $16 per share. 2. Repurchased 2,000 shares of its own common stock for $19 per share. 3. Resold 1,200 shares of treasury stock for $21 per share. 4. Earned $71,600 of cash revenue. 5. Paid $41,750 of cash operating expenses. Required Prepare the stockholders' equity section of the year-end balance sheet. Stockholders' Equity Total paid-in capital Total stockholders' equity MING CORPORATION Balance Sheet (Partial) As of December 31, Year 2