Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $$7$ par value, $96,000$ shares authorized. During the first year, the following selected transactions were completed:

a$.$ Sold $51,000$ shares of common stock for cash at $$42$ per share.

b$.$ Repurchased $10,000$ shares at $$44$ per share.

E$11-7$ Part $2$

$2.$ Prepare the stockholders' equity section of the balance sheet at the end of the year. Assume retained earnings at the end of the year was $$250,000.$

Note: Amounts to be deducted should be indicated with a minus sign.

$\backslash$table$[[$WILLIAMSON CORPORATION,$],[$Balance Sheet $($Partial$),],[$At End of This Year,,$],[$Stockholders$\text{'}$ equity:,,$],[$Contributed capital:,,$],[,,],[,,],[,,],[$Total contributed capital,,$],[,,],[,,],[$Total stockholders' equity,,$]]$