eBook Specialty Auto Racing Inc. retails racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing on July 31, the end of the current year: Common Stock, $10 par Paid-In Capital from Sale of Treasury Stock-Common Paid-In Capital in Excess of Par-Common Stock Paid-In Capital in Excess of Par-Preferred Stock Preferred 4% Stock, $50 par Retained Earnings Treasury Stock-Common $720,000 54,300 216,000 66,600 1,110,000 2,643,600 41,800 Stock shares authorized are: preferred stock, 100,000 shares; common stock, 400,000 shares. There are 3,800 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 10. Specialty Auto Racing Inc. Stockholders' Equity July 31, 20xx Line Item Description Paid-In Capital: Total Paid In Cantal Amount Amount Amount 00 Previous