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Create the stockholders equity section of the balance sheet

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Reference no: EM132490762

United Resources Company obtained a charter from the state in January of this year. The charter authorized 217,000 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:

  1. Sold 99,000 shares of the common stock in an initial public offering for $19 per share.
  2. Repurchased 29,000 shares of the previously issued shares for $22 per share.
  3. Resold 7,000 shares of treasury stock for $25 per share.

Required:

Question 1: Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to be deducted should be indicated with a minus sign.)

Reference no: EM132490762

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