Stockholders' Equity Section of Balance Sheet Spedialty Auto Rading 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: 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. Prepare the Stockholders' Equlty section of the balance sheet as of July 31, the end of the current Year using Method 1 of Exhibit 8 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 July 31, 20xX Paid-In Capital: Preferred 4\% stock, $50Par(50,000 Shares Authorized, 19,100 shares Issued) V Excess over Par From Sale of Treasury Stock X Cash Total Paid-In Capital Retained Eamings Total Treasury Stock (3,200 Shares at cost Total Stockholders' Equity