Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $3 par value, 82,000 shares authorized. During the first year, the following selected transactions were completed: a. Sold 57,000 shares of common stock for cash at $43 per share. b. Repurchased 1,000 shares from a stockholder for cash at $45 per share. 1. Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Sold 57,000 shares of common stock for cash at $43 per share. Note: Enter debits before credits Transaction General Journal Debit Credit a. Record entry Clear entry View general journal Journal entry worksheet 2 Repurchased 1,000 shares from a stockholder for cash at $45 per share. Note: Enter debits before credits. Credit General Journal Debit Transaction b. Record entry Clear entry View general journal 2. 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.) Stockholders Balance Sheet (Partial) At End of This Year Stockholders' equity: Capital: Total contributed capital Total stockholders' equity Journal entry worksheet 2 Sold 57,000 shares of common stock for cash at $43 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal Journal entry worksheet 2 Repurchased 1,000 shares from a stockholder for cash at $45 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit b. Record entry Clear entry View general journal Stockholders Balance Sheet (Partial) At End of This Year Stockholders' equity: Contributed Capital: Total contributed capital Total stockholders' equity