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Prepare the stockholders equity section of the balance sheet

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Question - United Resources Company obtained a charter from the state in January of this year. The charter authorized 216,000 shares of common stock with a par value of $2. During the year, the company earned $482,000 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 for $14 per share.

b. Repurchased 24,000 shares of the previously issued shares for $17 per share.

c. Resold 4,000 shares of treasury stock for $20 per share.

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

Reference no: EM133173596

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