Common Stock, $10 par $300,000 Paid-In Capital from Sale of Treasury Stock-Common 22,600 Paid-In Capital in Excess of Par-Common Stock 90,000 Paid-In Capital in Excess of Par-Preferred Stock 62,400 Preferred 4% Stock , $50 par 1,040,000 Retained Earnings 1,848,300 38,500 Treasury Stock-Common Fifty thousand shares of preferred and 200,000 shares of common stock are authorized. There are 3,500 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: Preferred 4% Stock, $50 Par (50,000 Shares Authorized, 20,800 Shares Issued) Excess of Issue Price Over Par Total Paid-In Capital Total Total Stockholders' Equity