How did we calculate the Preferred Stock, $200,000, and the Common Stock, $500,000,?

DO IT! 133(LO3),AP Hoyle Corporation has issued 100,000 shares of \$5 par value common stock. It authorized 500,000 shares. The paid-in capital in excess of par on the common stock is $263,000. The corporation has reacquired 7,000 shares at a cost of $46,000 and is currently holding those shares. The corporation also has 2,000 shares issued and outstanding of 9%,$100 par value preferred stock. It authorized 10,000 shares. The paid-in capital in excess of par on the preferred stock is $23,000. Retained earnings is $372,000. Prepare the stockholders' equity section of the balance sheet