< < Paid-In Capital: Cash X Treasury Stock (3,500 Shares at Cost) X From Sale of Treasury Stock X Cash X Specialty Auto Racing Inc Stockholders' Equity July 31, 20XX Common Stock, $10 Par (200,000 Shares Authorized, 30,000 Shares Issued) Total Paid-In Capital Total Total Stockholders' Equity Foodbook eBook X 00000 Stockholders' Equity Section of Balance Sheet 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 Inc. 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 $300,000 22,600 90,000 61,800 1,030,000 1,835,400 38,500 Fifty thousand shares of preferred and 200,000 shares of common stock are authorized. There are 3,500 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 8 Specialty Auto Racing Inc