United Resources Company obtained a charter from the state in January 2014, which authorized 212,000 shares of common stock, $3 par value. During the first year, the company earned $486,000 and the following selected transactions occurred in the order given:

a. Sold 88,000 shares of the common stock in an initial public offering at $15 per share.

b. Repurchased 23,000 shares of the previously issued shares at $18 cash per share for treasury stock.

c. Resold 4,000 of the shares of the treasury stock at $21 cash per share.

United Resources Company obtained a charter from the state in January 2014, which authorized 212,000 shares of common stock, $3 par value. During the first year, the company earned $486,000 and the following selected transactions occurred in the order given: a. Sold 88,000 shares of the common stock in an initial public offering at $15 per share. b. Repurchased 23,000 shares of the previously issued shares at $18 cash per share for treasury stock. c. Resold 4,000 of the shares of the treasury stock at $21 cash per share. Required: Prepare the stockholders' equity section of the balance sheet at December 31, 2014. (Amounts to be deducted should be indicated with a minus sign.) UNITED RESOURCES COMPANY Balance Sheet (Partial) At December 31, 2014 Stockholders' equity: Contributed capital: Total contributed capital Total contributed capital and retained earnings 0 Total stockholders' equity