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 Inc. on July 31, the end of the current year: Common Stock, $10 par Paid-In Capital from Sale of Treasury Stock-Common 36,200 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 Fifty thousand shares of preferred and 200,000 shares of common stock are authorized. There are 3,200 shares of common stock held as treasury stock. $480,000 144,000 57,300 955,000 2,040,500 35,200 Prepare the Stockholders' Equity section of the balance sheet as of July 31, the end of the current year using Method 1 of Exhibit 8 Specialty Auto Racing Inc Stockholders' Equity 31, 20XX Paid-In Capital: Total Paid-In Capital Total Total Stockholders' Equity