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 $2. During the year, the company earned $477,000 Also during the year, the following selected transactions occurred in the order given: a. Sold 96,000 shares of the common stock in an initial public offering at $15 cash per share b. Repurchased 29,000 shares of the previously issued shares at $18 cash per share c. Resold 8,000 of the shares of the treasury stock at $21 cash 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.) UNITED RESOURCES COMPANY Balance Sheet (Partial) At December 31, This year Stockholders' equity Contributed capital: Common stock Treasury stock $ 192,000 Total contributed capital 192,000 Retained earnings Total contributed capital and retained earnings 192,000 Total stockholders' equity $ 192,000