Stockholders' Equity Section of Balance Sheet Specialty Auto Racing Inc. retails racing products for BMWs, Porsches,...

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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 $840,000 Paid-In Capital from Sale of Treasury Stock-Common 63,300 Paid-In Capital in Excess of Par-Common Stock 252,000 Paid-In Capital in Excess of Par-Preferred Stock 56,100 935,000 2,618,600 35,200 Preferred 4% Stock, $50 par Retained Earnings Treasury Stock-Common 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 00 00 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 $840,000 Paid-In Capital from Sale of Treasury Stock-Common 63,300 Paid-In Capital in Excess of Par-Common Stock 252,000 Paid-In Capital in Excess of Par-Preferred Stock 56,100 935,000 2,618,600 35,200 Preferred 4% Stock, $50 par Retained Earnings Treasury Stock-Common 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 00 00