EX 12-19 Stockholders' Equity section of balance sheet Obj. 6 tal stockholders' Specialty Auto Racing Inc. retails racing products for BMWs, Porsches, and Ferraris. The fol quity, $89,100,000 lowing accounts and their balances appear in the ledger of Specialty Auto Racing on July 31. the end of the current year: Common Stock, 536 par....... $10,080,000 Paid In Capital from Sale of Treasury Stock-Common 340,000 Paid-in Capital in Excess of Par-Common Stock 420,000 Paid-In Capital in Excess of Par--Preferred Stock 384,000 Preferred 1% Stock, $150 par... 7,200,000 Retained Earnings 71,684,000 Treasury Stock-Common 1,008,000 Fifty thousand shares of preferred and 300,000 shares of common stock are authorized. There are 24,000 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