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:

Line Item Description	Amount
Common Stock, $10 par	$760,000
Paid-In Capital from Sale of Treasury Stock-Common	57,300
Paid-In Capital in Excess of Par-Common Stock	228,000
Paid-In Capital in Excess of Par-Preferred Stock	54,600
Preferred 4% Stock, $50 par	910,000
Retained Earnings	2,452,100
Treasury Stock-Common	34,100

Stock shares authorized are: preferred stock, 100,000 shares; common stock, 400,000 shares. There are 3,100 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 10.

Specialty Auto Racing Inc. Stockholders' Equity July 31, 20XX Line Item Description Amount Amount Amount Paid-In Capital: $ $ Total Paid-In Capital Total Total Stockholders' Equity