Premium Imports Inc. retails racing products for BMWs$,$ Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Premium Imports Inc. on November $30,$ the end of

the current fiscal year:

Common Stock, $$10$ par

Paid$-$In Capital in Excess of Par$-$Common Stock

Paid$-$In Capital in Excess of Par$-$Preferred Stock

Paid$-$In Capital from Sale of Treasury Stock$-$Common

Preferred $4\%$ Stock, $$50$ par

Retained Earnings

Treasury Stock$-$Common

$$920,000$

$276,000$

$73,500$

$69,400$

$1,225,000$

$3,128,000$

Shares authorized are One hundred thousand of preferred and $400,000$ shares of common stock. There are $4,200$ shares of common stock held as treasury stock.

Prepare the "Stockholders' Equity" section of the balance sheet as of November $30.$

Premium Imports Inc.

Stockholders' Equity Section of the Balance Sheet

November $30$

Contributed capital:

Preferred $4\%$ stock, $$50$ par shares authorized, $24,500$ shares issued