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The following information pertains to Ming Corp. at January 1, Year 2:

Common stock, $11 par,

57,000 shares authorized,

3,500 shares issued and outstanding $38,500

Paid-in capital in excess of par, common stock 58,600

Retained earnings 58,600

Ming Corp. completed the following transactions during Year 2:

Issued 2,100 shares of $11 par common stock for $16 per share.

Repurchased 2,000 shares of its own common stock for $19 per share.

Resold 1,200 shares of treasury stock for $21 per share.

Earned $64,800 of cash revenue.

Paid $37,350 of cash operating expenses.

Required

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

Fig: 1