"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:

Line Item Description	Amount
Common Stock, $10 par	$300,000
Paid-In Capital from Sale of Treasury Stock-Common	22,600
Paid-In Capital in Excess of Par-Common Stock	90,000
Paid-In Capital in Excess of Par-Preferred Stock	60,900
Preferred 4% Stock, $50 par	1,015,000
Retained Earnings	1,816,000
Treasury Stock-Common	38,500

Stock shares authorized are: preferred stock, 50,000 shares; common stock, 200,000 shares. There are 3,500 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.

Line Item Description	Amount	Amount	Amount
Paid-In Capital:
CashFrom Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 20,300 Shares Issued)Retained EarningsTreasury Stock (3,500 Shares at Cost)	$- Select -
CashExcess of Issue Price Over ParFrom Sale of Treasury StockRetained EarningsTreasury Stock (3,500 Shares at Cost)	- Select -
CashExcess of Issue Price Over ParFrom Sale of Treasury StockPaid-in capital, common stockPaid-in capital, preferred stock		$- Select -
CashCommon Stock, $10 Par (200,000 Shares Authorized, 30,000 Shares Issued)Preferred 4% Stock, $50 Par (50,000 Shares Authorized, 20,300 Shares Issued)Retained EarningsTreasury Stock (3,500 Shares at Cost)	$- Select -
Common Stock, $10 Par (200,000 Shares Authorized, 30,000 Shares Issued)Excess of Issue Price Over ParPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 20,300 Shares Issued)Retained EarningsTreasury Stock (3,500 Shares at Cost)	- Select -
CashExcess of Issue Price Over ParFrom Sale of Treasury StockPaid-in capital, common stockPaid-in capital, preferred stock		- Select -
CashCommon Stock, $10 Par (200,000 Shares Authorized, 30,000 Shares Issued)From Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 20,300 Shares Issued)Treasury Stock (3,500 Shares at Cost)		- Select -
Total Paid-In Capital			$Total Paid-In Capital
Common Stock, $10 Par (200,000 Shares Authorized, 30,000 Shares Issued)Excess of Issue Price Over ParFrom Sale of Treasury StockPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 20,300 Shares Issued)Retained Earnings			- Select -
Total			Total
Common Stock, $10 Par (200,000 Shares Authorized, 30,000 Shares Issued)Excess of Issue Price Over ParPreferred 4% Stock, $50 Par (50,000 Shares Authorized, 20,300 Shares Issued)Retained EarningsTreasury Stock (3,500 Shares at Cost)			- Select -
Total Stockholders' Equity			$Total Stockholders' Equity