Worldwide Company obtained a charter from the state in January that authorized 200,000 shares of common stock, $10 par value. During the first year, the company earned $38,100, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 59,000 shares of the common stock at $13 cash per share. b. Reacquired 1,900 shares at $16 cash per share from stockholders; the shares are now held in treasury. C. Reissued 950 of the shares in transaction (b) two months later at $19 cash per share. 3. Prepare the stockholders' equity section of the balance sheet at December 31. TIP: Because this is the first year of operations Retained Earnings has a zero balance at the beginning of the year. (Amounts to be deducted should be indicated by a minus sign.) Balance Sheet (Partial) 31 At Dece Stockholders' Equity Contributed Capital: Total Contributed Capital