Reporting Stockholders' Equity Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. 40,000 shares of common stock authorized, and 1,000 shares have been reacquired. Common Stock, $50 par $1,200,000 Paid-In Capital from Sale of Treasury Stock 60,000 Paid-In Capital in Excess of Par-Common Stock 264,000 Retained Earnings 708,000 Treasury Stock 37,000 Stockholders' Equity Paid-In Capital: Total Pald-in Capital Total EXHIBITS Stockholders' Equity Section of a Balance Sheet Telex Inc. Balance Sheet December 31, 2017 $100,000 10,000 $ 110,000 Stockholders' Equity Paid-in capital Preferred 10% stock, $50 par (2,000 shares authorized and issued). Excess over par Paid-in capital, preferred stock. Common stock, $20 par (50,000 shares authorized, 45,000 shares issued).. Excess over par Paid-in capital, common stock. From sale of treasury stock. Total paid-in capital. Retained earnings Total Treasury stock (600 shares at cost), Total stockholders'equity.... $900,000 190,000 Method 1 1,090,000 2.000 $1,202,000 350.000 $1,552,000 127000 $1,525,000 $ 100,000 Stockholders' Equity Contributed capital Preferred 10% stock, 550 par 2,000 shares authorized and issued) Common stock, 520 par (50,000 shares authorized, 45,000 shares issued)... Additional paid-in capital Total contributed capital Retained earnings.. 900,000 202.000 Method 2 Total $1,202,000 350.000 $1,552.000 127.000 $1,525,000 Treasury stock (600 shares at cost). Total stockholders'equity