Reporting stockholders' equity

Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. Regarding the common stock, 70,000 shares are authorized, and 10,000 shares have been reacquired.

Line Item Description	Amount
Common Stock, $70 par	$3,920,000
Paid-In Capital from Sale of Treasury Stock (10,000 shares at cost)	78,000
Paid-In Capital in Excess of ParCommon Stock	616,000
Retained Earnings	2,038,000
Treasury Stock	41,000