Net income is a mag always the dividends paid shareholders the accounting profit from the operations of the company during the period cash flow the accounting profit from the non-operating assets of the company during the period Corporations: eBook Calculator Print Item Stockholders' Equity Section of Balance Sheet Specialty Auto Racing Inc. retails racing products for BMW, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing Inc. on July 31, the end of the current year: Common Stock, $10 par $360,000 Paid-In Capital from Sale of Treasury Stock-Common 27,100 Pald-In Capital in Excess of Par-Common Stock 108,000 Paid-In Capital in Excess of Par-Preferred Stock 61,200 Preferred 4% Stock, $50 par 1,020,000 Retained Earnings 1,923,100 Treasury Stock-Common 38,500 Fifty thousand shares of preferred and 200,000 shares of comme stock are authorized. There are 3,500 shares of common stock held as treasury stock. Prepare the Stockholders' Equity section of the balance sheet a the end of the current year using Method 1 of Exhibit 8 Specialty Auto Racing Inc Stockholders' Equity July 31, 20XX Pald-In Capital Check My Work Save and Exit Submit Assignment for Grading