Business, 14.12.2019 01:31 brianlykid3042

United resources company obtained a charter from the state in january of this year. the charter authorized 200,000 shares of common stock with a par value of $1. during the year, the company earned $590,000. also during the year, the following selected transactions occurred in the order given:

a. sold 100,000 shares of the common stock in an initial public offering at $12 cash per share.
b. repurchased 20,000 shares of the previously issued shares at $15 cash per share.
c. resold 5,000 of the shares of the treasury stock at $18 cash per share.

required:
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.)

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United resources company obtained a charter from the state in january of this year. the charter auth...