United Resources Company obtained a charter from the state in January of this year. The charter authorized 204,000 shares of common stock with a par value of $3. During the year, the company earned $494,000. Also during the year, the following selected transactions occurred in the order given: a. Sold 88,000 shares of the common stock in an initial public offering for $16 per share. b. Repurchased 26,000 shares of the previously issued shares for $19 per share and is holding them as treasury stock. c. Resold 2,000 shares of treasury stock for $22 per share. Stockholders' equity: Contributed capital: UNITED RESOURCES COMPANY Balance Sheet (Partial) At December 31, This year Total contributed capital Total stockholders' equity