Prepare the stockholders equity section of the balance sheet

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Reference no: EM132082439

Question: United Resources Company obtained a charter from the state in January of this year. The charter authorized 208,000 shares of common stock with a par value of $2. During the year, the company earned $492,000 Also during the year, the following selected transactions occurred in the order given

a. Sold 85,000 shares of the common stock in an initial public offering at $17 cash per share.

b. Repurchased 23,000 shares of the previously issued shares at $20 cash per share.

c. Resold 4,000 of the shares of the treasury stock at $23 cash per share.

Prepare the stockholders' equity section of the balance sheet at the end of the year.

Reference no: EM132082439

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