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 $37,400 and declared no dividends; the following selected transactions occurred in the order given: a. Issued 52,000 shares of the common stock at $12 cash per share. b. Reacquired 1,200 shares at $15 cash per share from stockholders; the shares are now held in treasury. c. Reissued 600 of the shares in transaction (b) two months later at $18 cash per share. P11-1 (Algo) Part 3 Prepare the stockholders' equity section of the balance sheet at Becember 31 . TIP: Because this is the first year of operations, etained Earnings has a zero balance at the beginning of the year. (Amounts to be deducted should be indicated by a minus sign.) 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.)