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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 on July 31, the end of the current year: Common Stock, $10 par $600,000 Paid In Capital from Sale of Treasury Stock Common 45,200 Paid-In Capital in excess of Par-Common Stock 180,000 Pald-In Capital in excess of Par-Preferred Stock 84,900 Preferred 4% Stock, $50 par 1,415,000 Retained Earnings 2,836,600 Treasury Stock-Common 52,800 One hundred thousand shares of preferred and 400,000 shares of common stock are authorized. There are 4,800 shares of common stock held as treasury sto 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 Specialty Auto Racing Inc. Stockholders' Equity July 31, 20xx Paldin Capital Preferred 4% Stock, $50 Par (100,000 shares Authorized, 28,300 shares Issued) 1.415.000 Excess of Issue Price Over Par Paid in capital, preferred stock Common Stock, 510 Par (400,000 Shares Authorized, 60,000 Shares Issued) 10.000 x Excess of losue Price Over Par 1,415,000 Stockholders' Equity July 31, 20xx Paid-In Capital: Preferred 4% Stock, $50 Par (100,000 Shares Authorized, 28,300 Shares Issued) Excess of Issue Price Over Par Pald-in capital, preferred stock Common Stock, $10 Par (400,000 Shares Authorized, 60,000 shares issued) Excess of Issue Price Over Par Pald-in capital, common stock From Sale of Treasury Stock Total Pald-In Capital Retained Earnings v. 180,000 X 2,836,600 Total Treasury Stock (4,800 Shares at Cost) 52.800 Total Stockholders' Equity Feedback