16. Using the following information, prepare the Stockholders' Equity section of the balance sheet. Seventy thousand shares of common stock are authorized and 7,000 shares have been reacquired. Common Stock, $75 par Paid-in Capital in Excess of Par Paid-in Capital from Sale of Treasury Stock Retained Earnings Treasury Stock $4,725,000 679,000 25,200 2,032,800 600,000 8