13 PE5-7,E15 Reporting Stockholders' Equity Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. 100,000 shares of common stock authorized, and 10,000 shares have been reacquired. Common Stock, $50 par $4,000,000 8 Paid-In Capital from Sale of Treasury Stock 160,000 Paid-In Capital in Excess of Par-Common Stock 480,000 Retained Earnings 2,240,000 Treasury Stock 91,000 VII U Paid-In Capital: Stockholders' Equity Common Stock, $50 Par Excess over par Paid-in capital, common stock From Sale of Treasury Stock Total Paid-in Capital Retained Earnings Total Treasury Stock Total Stockholders' Equity 4,000,000 480,000 100,000 X 160,000 260,000 X 2,240,000 $ 2,240,000 91,000 2,149,000 X Check My Work Recall that paid-in capital reflects the total amount that has been paid into the business by the stockholders for ownership in the corporation. Feedback