United Resources Company obtained a charter from the state in January of this year. The charter authorized 211,000 shares of common stock with a par value of $2. During the year, the company earned $491,000 Also during the year, the following selected transactions occurred in the order given:

1. Sold 90,000 shares of the common stock in an initial public offering for $17 per share.
2. Repurchased 23,000 shares of the previously issued shares for $20 per share.
3. 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. (Amounts to be deducted should be indicated with a minus sign.)