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