EXHIBIT 8 Stockholders' Equity Section of a Balance Sheet Telex Inc. Balance Sheet December 31, 20Y7 Stockholders' Equity Paid-in capital: Preferred 1096 stock, $50 par (2,000 shares authorized and issued) Excess over par $100,000 10,000 Paid-in capital, preferred stock $ 110,000 Common stock, $20 par (50,000 shares authorized, 45,000 shares issued)... $900,000 190,000 Method 1 Paid-in capital, common stock 1,090,000 2,000 Total paid-in capital... $1,202,000 350,000 1,552,000 (27000 $1,525,000 Stockholders' Equity Contributed capital: Preferred 1096 stock, $50 par(2,000 shares authorized and Common stock, $20 par (50,000 shares authorized, Additional paid-in capital 100,000 900,000 Method 2 202,000 Total contributed capital 1,202,000 350,000 1,552,000 Treasury stock (600 shares at cost) $1,525,000 Instructions Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8 Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. One hundred thousand shares of common stock are authorized, and 5,000 shares have been reacquired. Common Stock, $2 par Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par Common Stock Retained Earnings Treasury Stock 150,000 60,000 2,250,000 10,880,000 140,000 Stockholders' Equity Shaded cells have feedback Prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Score: 21/91 Stockholders' Equity 1Paid-in capital: 2 Common stock, $2 par (100,000 shares authorized, 75,000 shares issued) 3Excess over par $150,000.00 2,250,000.00