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 2,000 shares have been reacquired.

Common Stock, $30 par $960,000

Paid-In Capital from Sale of Treasury Stock 38,000

Paid-In Capital in Excess of ParCommon Stock 256,000

Retained Earnings 557,000

Treasury Stock 24,000

Stockholders' Equity

Paid-In Capital:

Common Stock, $30 Par $960,000

Excess over par _________

Paid-in capital, common stock _________

From Sale of Treasury Stock 38,000

Total Paid-in Capital __________

Retained Earnings __________

Total __________

Treasury Stock -24,000

Total Stockholders' Equity ___________