United Resources Company obtained a charter from the state in January of this year. The charter authorized 207,000 shares of common stock with a par value of $3. During the year, the company earned $488,000 Also during the year, the following selected transactions occurred in the order given:

a. Sold 85,000 shares of the common stock in an initial public offering at $13 cash per share.

b. Repurchased 27,000 shares of the previously issued shares at $16 cash per share.

c. Resold 11,000 of the shares of the treasury stock at $19 cash per share.

Required: Prepare the stockholders' equity section of the balance sheet at the end of the year.