Reporting Stockholders' Equity

Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. Two hundred thousand shares of common stock are authorized, and 5,000 shares have been reacquired.

Common Stock, $3 par	$270,000
Paid-In Capital from Sale of Treasury Stock	62,000
Paid-In Capital in Excess of ParCommon Stock	1,196,000
Retained Earnings	7,430,000
Treasury Stock	230,000