Specialty Auto Racing Inc. retails racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing on July 31, the end of the current year:

1	Common Stock, $36 par	$10,310,400.00
2	Paid-In Capital from Sale of Treasury Stock-Common	337,000.00
3	Paid-In Capital in Excess of Par-Common Stock	2,291,200.00
4	Paid-In Capital in Excess of Par-Preferred Stock	327,600.00
5	Preferred 1% Stock, $150 par	7,020,000.00
6	Retained Earnings	70,901,000.00
7	Treasury Stock-Common	1,049,200.00

Fifty thousand shares of preferred and 300,000 shares of common stock are authorized. There are 24,400 shares of common stock held as treasury stock.

Prepare the Stockholders Equity section of the balance sheet as of July 31, the end of the current year, using Method 1 of Exhibit 9. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

Accounts and Amount Descriptions
Common stock, $36 par (300,000 shares authorized, 286,400 shares issued)
Common stock dividends
Excess of issue price over par
From sale of treasury stock
Increase in retained earnings
Paid-in capital, common stock
Paid-in capital, preferred stock
Preferred 1% stock, $150 par (50,000 shares authorized, 46,800 shares issued)
Preferred stock dividends
Retained earnings
Total
Total contributed capital
Total paid-in capital
Total stockholders equity
Treasury common stock (24,400 shares at cost)