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 Inc. on July 31, the end of the current year:

Common Stock, $10 par	$320,000
Paid-In Capital from Sale of Treasury Stock-Common	24,100
Paid-In Capital in Excess of Par-Common Stock	96,000
Paid-In Capital in Excess of Par-Preferred Stock	83,400
Preferred 4% Stock, $50 par	1,390,000
Retained Earnings	2,334,500
Treasury Stock-Common	51,700

Fifty thousand shares of preferred and 200,000 shares of common stock are authorized. There are 4,700 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

Specialty Auto Racing Inc Stockholders' Equity July 31

Paid-In Capital:
CashTreasury Stock (4,700 Shares at Cost)From Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 27,800 Shares Issued)Retained Earnings	$- Select -
CashTreasury Stock (4,700 Shares at Cost)Excess over ParFrom Sale of Treasury StockRetained Earnings	- Select -
CashTreasury Stock (4,700 Shares at Cost)Paid-in Capital, Preferred StockFrom Sale of Treasury StockRetained Earnings		$- Select -
CashCommon Stock, $10 Par (200,000 Shares Authorized, 32,000 Shares Issued)Preferred 4% Stock, $50 Par (50,000 Shares Authorized, 27,800 Shares Issued)Retained Earnings	$- Select -
CashCommon Stock, $10 Par (200,000 Shares Authorized, 32,000 Shares Issued)Excess over ParPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 27,800 Shares Issued)Retained Earnings	- Select -
CashCommon Stock, $10 Par (200,000 Shares Authorized, 32,000 Shares Issued)Paid-in Capital, Common StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 27,800 Shares Issued)Retained Earnings		- Select -
CashCommon Stock, $10 Par (200,000 Shares Authorized, 32,000 Shares Issued)From Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 27,800 Shares Issued)Treasury Stock (4,700 Shares at Cost)		- Select -
Total Paid-In Capital			$fill in the blank 15
CashExcess over ParNet IncomeFrom Sale of Treasury StockRetained Earnings			- Select -
CashCommon Stock, $10 Par (200,000 Shares Authorized, 32,000 Shares Issued)Excess over ParPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 27,800 Shares Issued)Treasury Stock (4,700 Shares at Cost)			- Select -
Total Stockholders' Equity			$fill in the blank 20