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Stockholders Equity section of balance sheet

Specialty Auto Racing Inc. retails racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing on July 31, the end of the current year:

Common Stock, $10 par	$480,000
Paid-In Capital from Sale of Treasury Stock-Common	36,200
Paid-In Capital in Excess of Par-Common Stock	144,000
Paid-In Capital in Excess of Par-Preferred Stock	100,800
Preferred 4% Stock, $50 par	1,680,000
Retained Earnings	2,978,000
Treasury Stock-Common	62,700

Fifty thousand shares of preferred and 200,000 shares of common stock are authorized. There are 5,700 shares of common stock held as treasury stock.

Prepare the Stockholders' Equity section of the balance sheet as of July 31, the end of the current year using Method 1 of Exhibit 9.

Specialty Auto Racing Inc. Stockholders' Equity July 31, 20XX

Paid-In Capital:
CashFrom Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued)Retained EarningsTreasury Stock (5,700 Shares at Cost)Preferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued)	$Preferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued)
CashExcess of Issue Price Over ParFrom Sale of Treasury StockRetained EarningsTreasury Stock (5,700 Shares at Cost)	- Select -
CashExcess of Issue Price Over ParFrom Sale of Treasury StockPaid-in capital, common stockPaid-in capital, preferred stock		$- Select -
CashCommon Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)Preferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued)Retained EarningsTreasury Stock (5,700 Shares at Cost)	$- Select -
Common Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)Excess of Issue Price Over ParPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued)Retained EarningsTreasury Stock (5,700 Shares at Cost)	- Select -
CashExcess of Issue Price Over ParFrom Sale of Treasury StockPaid-in capital, common stockPaid-in capital, preferred stock		- Select -
CashCommon Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)From Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued)Treasury Stock (5,700 Shares at Cost)		- Select -
Total Paid-In Capital			$fill in the blank 15
Common Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)Excess of Issue Price Over ParFrom Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 33,600 Shares Issued)Retained Earnings			- Select -
Total			fill in the blank 18

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