The following transactions occurred for Clinten Company.

1. Clinten Company was formed on July 1, 2018 by issuing 10,000 shares of its $10 par value common stock for $30 per share. 100,000 shares were authorized by the charter. The company has a fiscal year ending June 30.

2. The company reported a net income of $40,000 during the year ended June 30, 2019. There were no other transactions affecting stockholders equity for the year ending June 30, 2019.

3. On July 31, 2019, the company purchased on the open market 1,000 of its own shares at a cost of $28 per share. Treasury shares are accounted for under the cost method.

4. A cash dividend of 50 cents per common share was declared on Oct. 15, 2019, and paid on Nov. 15, 2019 to stockholders of record on Nov. 1, 2019.

5. On June 10, 2020, 500 new shares of company common stock were sold at a price of $28 per share.

6. The next day, on June 11, 2020, 600 shares of treasury stock were sold at a price of $29 per share.

7. Net earnings for the two years ended June 30, 2020 totaled $14,000.

Instructions: Prepare the stockholders equity section of the balance sheet for Clinten Company at June 30, 2020 in good form.