Stockholders' Equity section of balance sheet Instructions Accounts and Amount Descriptions Stockholders' Equity Instructions 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, $37 par $9,805,000.00 2 Paid-In Capital from Sale of Treasury Stock-Common 327,000.00 Paid-In Capital in Excess of Par-Common Stock 2,650,000.00 Paid-In Capital in Excess of Par-Preferred Stock 332,500.00 Preferred 1% Stock, $150 par 7,125,000.00 Retained Earnings 7 Treasury Stock-Common 68,366,200.00 994,400.00 Fifty thousand shares of preferred and 300,000 shares of common stock are authorized. There are 22,600 shares of common stock held as treasury stock.