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"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:

Line Item Description	Amount
Common Stock, $10 par	$480,000
Paid-In Capital from Sale of Treasury Stock-Common	36,200
Paid-In Capital in Excess of Par-Common Stock	144,000
Paid-In Capital in Excess of Par-Preferred Stock	70,200
Preferred 4% Stock, $50 par	1,170,000
Retained Earnings	2,318,500
Treasury Stock-Common	44,000

Stock shares authorized are: preferred stock, 50,000 shares; common stock, 200,000 shares. There are 4,000 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 10.

Line Item Description	Amount	Amount	Amount
Paid-In Capital:
CashFrom Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 23,400 Shares Issued)Retained EarningsTreasury Stock (4,000 Shares at Cost)Preferred 4% Stock, $50 Par (50,000 Shares Authorized, 23,400 Shares Issued)	$Preferred 4% Stock, $50 Par (50,000 Shares Authorized, 23,400 Shares Issued)
CashExcess of Issue Price Over ParFrom Sale of Treasury StockRetained EarningsTreasury Stock (4,000 Shares at Cost)Excess of Issue Price Over Par	Excess of Issue Price Over Par
CashExcess of Issue Price Over ParFrom Sale of Treasury StockPaid-in capital, common stockPaid-in capital, preferred stockPaid-in capital, preferred stock		$Paid-in capital, preferred stock
CashCommon Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)Preferred 4% Stock, $50 Par (50,000 Shares Authorized, 23,400 Shares Issued)Retained EarningsTreasury Stock (4,000 Shares at Cost)	$- Select -
Common Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)Excess of Issue Price Over ParPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 23,400 Shares Issued)Retained EarningsTreasury Stock (4,000 Shares at Cost)	- Select -
CashExcess of Issue Price Over ParFrom Sale of Treasury StockPaid-in capital, common stockPaid-in capital, preferred stock		- Select -
CashCommon Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)From Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 23,400 Shares Issued)Treasury Stock (4,000 Shares at Cost)		- Select -
Total Paid-In Capital			$Total Paid-In Capital
Common Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)Excess of Issue Price Over ParFrom Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 23,400 Shares Issued)Retained Earnings			- Select -
Total			Total
Common Stock, $10 Par (200,000 Shares Authorized, 48,000 Shares Issued)Excess of Issue Price Over ParPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 23,400 Shares Issued)Retained EarningsTreasury Stock (4,000 Shares at Cost)			- Select -
Total Stockholders' Equity			$Total Stockholders' Equity