Reporting paid-in capital Obj. 6 The following accounts and their balances were selected from the adjusted trial balance of Point Loma Group Inc., a freight forwarder, at October 31, the end of the current fiscal year:

Common Stock, no par, $14 stated value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,480,000 Paid-In Capital from Sale of Treasury Stock. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45,000 Paid-In Capital in Excess of Par—Preferred Stock. . . . . . . . . . . . . . . . . . . . . . . . . . 210,000 Paid-In Capital in Excess of Stated Value—Common Stock . . . . . . . . . . . . . . . . 480,000 Preferred 2% Stock, $120 par. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,400,000 Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39,500,000 Prepare the Paid-in capital portion of the “Stockholders’ Equity” section of the balance sheet using Method 1 of Exhibit 9. There are 375,000 shares of common stock authorized and 85,000 shares of preferred stock authorized.

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