United Resources Company obtained a charter from the state in January of this year. The charter authorized 203,000 shares of common stock with a par value of $2. During the year, the company earned $480,000 Also during the year, the following selected transactions occurred in the order given: a. Sold 90,000 shares of the common stock in an initial public offering for $13 per share. b. Repurchased 22,000 shares of the previously issued shares for $16 per share. c. Resold 7,000 shares of treasury stock for $19 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: Total contributed capital Total contributed capital and retained earnings Total stockholders' equity