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, October 31, the end of the current fiscal year: Common Stock, no par, $14 stated value $1,120,000 Paid-In Capital from Sale of Treasury Stock 561,800 Paid-In Capital in Excess of Par-Preferred Stock 93,600 Paid-In Capital in Excess of Stated Value-Common Stock 2,688,000 Preferred 2% Stock, $120 par 780,000 Retained Earnings 6,921,000 Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. There are 260,000 shares of common stock authorized and 17,000 shares of preferred stock authorized Point Loma Group Inc., Stockholders' Equity October 31, 20XX Paid-in Capital: Preferred 2% Stock, $120 Par (17,000 Shares Authorized, 6,500 Shares Issued) Excess over par Paid-in capital, preferred stock QO 00 Common Stock, No Par, $5 Stated Value (260,000 Shares Authorized, 80,000 Shares Issued) Excess over par Paid-in capital, common stock From Sale of Treasury Stock Total Paid-In Capital