Reporting Paid-In Capital The following accounts and their balances were selected from the adjusted trial balance of Point Loma Group Inc., a freight forwarder, at October 31, the end of the current fiscal year: Common Stock, no par, $14 stated value Paid-In Capital from Sale of Treasury Stock Paid-In Capital in Excess of Par-Preferred Stock Pald-In Capital in Excess of Stated Value-Common Stock Preferred 2% Stock, $120 par Retained Earnings Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. There are 160,000 shares of common stock authorized and 14,000 shares of preferred stock authorized. $700,000 369,500 74,880 1,680,000 624,000 4,552,000 Point Loma Group Inc Stockholders' Equity October 31, 20x0 Paid-in Capital: Preferred 29% Stock, $120 Par (14,000 Shares Authorized, 5,200 Shares Issued) Excess over par Paid-in capital, preferred stock Common Stock No Par.$5 Stated Velue C160,000 Shares Authorized, 50,000 Shares Isued Excess over par Paid-in capital, common stock From Sale of Treasury Stock Total Paid-In Capital Check My Work 2 more Check My Work uses remaining Previous Next