Stockholders' Equity Section of Balance Sheet Specialty Auto Racing Inc. retals racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Speciality Auto Racing Inc. on July 31, the end of the current year Common Stock, $10 par Paid-In Capital from Sale of Treasury Stock-Common $600,000 45,200 Paid-In Capital in Excess of Par-Common Stock 180,000 Paid-In Capital in Excess of Par-Preferred Stock 77,400 1,290,000 2,675,000 40,400 Preferred 4% Stock, $50 par Retained Earrings Treasury Stock-Common One hundred thousand shares of preferred and 400,000 shares of common stock are authorized. There are 4,400 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 Treasury Stock-Common Paid-In Capital 48,400 One hundred thousand shares of preferred and 400,000 shares of common stock are authorized. There are 4,400 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 Specialty Auto Racing Inc Stockholders' Equity July 31 Preferred Stock $50 Par (100X000 Shares Authorized, 25,000 Shares Issued) Excess Over Park Paid-in Capital, Preferred Stock Cominon Stock, $10 Par (400,000 Shares Authorized, 60,000 Shares Issued). Excess over Par Paid-in Capital, Common Stock From Sale of Treasury Stock Total Paid-In Capital Retained Earnings Treasury Stock C400 Shares at Cost) Total Stockholders' Equity 00 00 Q 00 0000