United Resources Company obtained a charter from the state in January of this year. The charter authorized 209,000 shares of common stock with a par value of $3. During the year, the company earned $485,000. Also during the year, the following selected transactions occurred in the order given: a. Sold 90,000 shares of the common stock in an initial public offering for $17 per share. b. Repurchased 27,000 shares of the previously issued shares for $20 per share and is holding them as treasury stock. c. Resold 4,000 shares of treasury stock for $23 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. Stockholders' equity: Contributed capital: Common stock Answer is not complete. UNITED RESOURCES COMPANY Balance Sheet (Partial) At December 31, This year Additional paid-in capital Total contributed capital $ 178,000 485,000 $ 663,000 Total stockholders' equity $ 663,000