United Resources Company obtained a charter from the state in January of this year. The charter authorized 217,000 shares of common stock with a par value of $1. During the year, the company earned $490,000. Also during the year, the following selected transactions occurred in the order given: a. Sold 100,000 shares of the common stock in an initial public offering for $19 per share. b. Repurchased 24,000 shares of the previously issued shares for $22 per share and is holding them as treasury stock. c. Resold 9,000 shares of treasury stock for $25 per share. Required: Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated with a minus sign. UNITED RESOURCES COMPANY Balance Sheet (Partial) At December 31 , This year Stockholders' equity: Contributed capital: \begin{tabular}{|c|c|c|} \hline & & \\ \hline & & \\ \hline Total contributed capital & & \\ \hline & & \\ \hline & & \\ \hline Total stockholders' equity & & \\ \hline \end{tabular}