Specialty Auto Racing Inc, retails racing products for BMWs, Porsches, and Fecraris. The foliowing accounts and their balances appear in the ledger of Specialty Auto Racing Inc on July 31 , the end of the current year: riry tnousana shares of prererred and 200,000 shares of common stokk are authorized. There are 3,400 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 t of Exhibit 8 . Fifty thousand shares of preferred and 200,000 shares of common stock are authorized. There are 3,400 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 8