Williamson Corporation's Board authorized 100,000 shares of common stock with $6 par value. During the first year, Williamson:

1. Sold 62,000 shares of common stock for cash at $54 per share.
2. Repurchased 10,000 shares at $56 per share.

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 $220,000.

Required information Williamson Corporation's Board authorized 100,000 shares of common stock with $6 par value. During the first year, Williamson: a. Sold 62,000 shares of common stock for cash at $54 per share. b. Repurchased 10,000 shares at $56 per share. Prepare the stockholders' equity section of the balance sheet at the end of the year. Assume retained earnings at the end of the ear was $220,000 Note: Amounts to be deducted should be indicated with a minus sign