Stockholders Equity Section of Balance Sheet Specialty Auto Racing Inc. retails racing products for DMWs, Porsches, and Ferrans. The following accounts and ther balances appear in the ledger of Specialty Auto Racing Inc. on July 31, the end of the current yea Common Stock, $10 par Paid-In Capital from Sale of Treasury Stock Common $840,000 63,300 Paid-In Capital in Excess of Par-Common Stock Paid Capital in Excess of Par-Preferred Stock Preferred 4% Stock, $50 per Betamet Cameg Treasury Stock Common 252,000 64,000 1,000,000 2,806,100 40,700 One hundred thousand shares of preferred and 400,000 shares of common stock are authent Them a 3,700 shares of common stack held as treasury stock Prepare the Stockholders' Equity section of the balance sheet as of July 31, the und of the current way using Method 1 of Fed- Capital Specialty Auto Racing In Stockholders' Equity dy 31, 20xx frefered 4% Stock, 550 Par 100,000 Shares Aufened, 21.600 Shares Exten over Par 64000 1244,300 Common Stock $10 Par 1400.000 Shams Authuneed, 04.000 Shams Issund Encana avel B Ok My Work Assignment Score $4.54% 51'F Modly dully All work saved Submit Aw Q Search Paid-In Capital: WE MAY UBIBIce sheet as of my 31 the end of the current year using Method I of Exsibit Specialty Auto Racing Inc Stockholders' Equity July 31, 20XX Preferred 4% Stock $50 Par (100.000 Shares Authonzed, 21.600 Shares Issued) Excess over Par Paid-in Capital Preferred Stock - Common Stock $10 Par (400.000 Shares Authonzed 84.000 Shares Insured) Excess over Par Paid in Capital Common Stock From Sale of Treasury Stock Total Paid-In Capital Retained Lamings Total Treasury Stock (3.700 Shares at Cost) Total Stockholders' Equity 1,000,000 64,800 1.144.800 Feedback Check My Work Recall that the paid-in capital section of the balance sheet includes separate reporting of each class of stock Treasury stock held by a corporation reduces stockholders' equity 100000