PLEASE MAKE CORRECTIONS TO MY MISTAKES, THANK YOU

"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 on July 31, the end of the current year: Common Stock, $10 par $720,000 54,300 Paid-In Capital from Sale of Treasury Stock-Common Paid-In Capital in Excess of Par-Common Stock 216,000 Paid-In Capital in Excess of Par-Preferred Stock 99,300 Preferred 4% Stock, $50 par 1,655,000 3,348,400 Retained Earnings Treasury Stock-Common 61,600 One hundred thousand shares of preferred and 400,000 shares of common stock are authorized. There are 5,600 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 9. One hundred thousand shares of preferred and 400,000 shares of common stock are authorized. There are 5,600 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 9. Specialty Auto Racing Inc. Stockholders' Equity July 31, 20XX Paid-In Capital: Preferred 4% Stock, $50 Par (100,000 Shares Authorized, 33,100 Shares Issued) 1,655,000 Excess of Issue Price Over Par 99,300 Paid-in capital, common stock 1,754,300 Common Stock, $10 Par (400,000 Shares Authorized, 72,000 Shares Issued) Total Paid-In Capital Total Treasury Stock (5,600 Shares at Cost) 61,600 Total Stockholders' Equity