Pay-n-Sav, Inc., has the following selected account balances at June 30, 19X7. Prepare the stockholders' equity section of the company's balance sheet.

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Inventory. Machinery and equipment...... Preferred stock, 5%, $20 par, 20,000 shares authorized, 11,000 shares issued........ Paid-in capital in excess of par-preferred stock............... $112,000 Common stock, no-par with 109,000 $1 stated value, 500,000 shares authorized, 120,000 shares issued $120,000 Accumulated depreciation- machinery and equipment 62,000 Retained earnings... 119,000 3,000 81,000 220,000 88,000 Organization cost, net..... Revenue from donations.