"Stockholders' Equity" section of balance$-$sheet

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:

Common Stock, $$10$ par $$920,000$

Paid$-$In Capital from Sale of Treasury Stock$-$Common $69,400$

Paid$-$In Capital in Excess of Par$-$Common Stock $276,000$

Paid$-$In Capital in Excess of Par$-$Preferred Stock $80,100$

Preferred $4\%$ Stock, $$50$ par $1,335,000$

Retained Earnings $3,270,200$

Treasury Stock$-$Common $49,500$

Stock shares authorized are: preferred stock, $100,000$ shares; common stock, $400,000$ shares. There are $4,500$ 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 $10.$