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Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $ 9 par value, 8 7 ,

Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $9 par value, 87,000 shares authorized. During the first year, the following selected transactions were completed: a. Sold 67,000 shares of common stock for cash at $52 per share. b. Repurchased 11,000 shares at $54 per share.
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