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 $482,000 Also during the year, the following selected transactions occurred in the order given: a. Sold 81,000 shares of the common stock in an initial public offering at $19 cash per share. b. Repurchased 26,000 shares of the previously issued shares at $22 cash per share c. Resold 9,000 of the shares of the treasury stock at $25 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 S 243,000 1,296,000 225,000 1,764,000 Premium on bonds payable Treasury stock Total contributed capital Retained earnings Total contributed capital and retained earnings Common stock Additional paid-in capital Total stockholders' equity 482,000 2,246,000 (78,000) (494,000) $ 1,674,000