Worldwide Company obtained a charter from the state in January 2003. which authorized 200.000 shares of common stock. $10 par value. The stockholders were 30 local citizens. During the first year, the company earned $38,200 and the following selected transactions occurred in the order given:

a. Sold 60.000 shares of the common stock to the 30 stockholders at S 1 2 per share.

b. Purchased 2.000 shares at $15 cash per share from one of the 30 stockholders who needed cash and wanted to sell the stock back to the company.

c. Resold 1 .000 of the shares of the treasury stock purchased in transaction b two months later to another individual at $18 cash per share.

Required:

Prepare the stockholders" equity section of the balance sheet at December 31. 2003.