"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:

Stock shares authorized are: preferred stock, $100,000$ shares; common stock, $400,000$ shares. There are $3,100$ 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 $10.$

Specialty Auto Racing Inc.

Stockholders' Equity

July $31,20$XX

Line Item Description

Amount

Amount

Amount

Paid$-$In Capital:

$

$

$

Total Paid$-$In Capital

$

Total

Total Stockholders' Equity

$