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 Paid-In Capital from Sale of Treasury Stock-Common Paid-In Capital in Excess of Par-Common Stock Paid-In Capital in Excess of Par-Preferred Stock Preferred 4% Stock, $50 par Retained Earnings Treasury Stock-Common $840,000 63,300 252,000 56,100 935,000 2,618,600 35,200 One hundred thousand shares of preferred and 400,000 shares of common stock are authorized. There are 3,200 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 9. Paid-In Capital: Specialty Auto Racing Inc. Stockholders' Equity July 31, 20XX Preferred 4% Stock, $50 Par (100,000 Shares Authorized, 18,700 Shares Issued) 935,000 Excess of Issue Price Over Par 56,100 Excess of Issue Price Over Par 1,092,000 x Common Stock, $10 Par (400,000 Shares Authorized, 84,000 Shares Issued) Excess of Issue Price Over Par 840,000 252,000