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 $980,000 Paid-In Capital from Sale of Treasury Stock 514,300 Paid-In Capital in Excess of Par-Preferred Stock 102,240 Paid-In Capital in Excess of Stated Value-Common Stock 2,352,000 Preferred 2% Stock, $120 par 852,000 Retained Earnings 6,337,000 Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. There are 220,000 shares of common stock authorized and 19,000 shares of preferred stock authorized. Point Loma Group Inc., Stockholders' Equity October 31, 20xx Paid-in Capital: Preferred 2% Stock, $120 Par (19,000 Shares Authorized, 7,100 Shares Issued) 102.240 Excess over par Paid-in capital, preferred stock Common Stock, No Par, $5 Stated Value (220,000 Shares Authorized, 70,000 Shares Issued) 2.352,000 Excess over par Paid-in capital, common stock From Sale of Treasury Stock Total Paid-In Capital