Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet using Method 1 of

Exhibit 8

. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

Two hundred fifty thousand shares of common stock are authorized, and 18,500 shares have been reacquired.

Common Stock, $50 par	$9,600,000
Paid-In Capital from Sale of Treasury Stock	312,000
Paid-In Capital in Excess of ParCommon Stock	3,420,000
Retained Earnings	18,950,000
Treasury Stock	1,202,500

Accounts and Amount Descriptions

Accounts and Amount Descriptions
Common stock, $50 par (250,000 shares authorized, 182,500 shares issued)
Common stock, $50 par (250,000 shares authorized, 192,000 shares issued)
Dividends on common stock
Excess over par
From sale of treasury stock
Issuance of additional common stock
Net income
Paid-in capital, common stock
Purchase of treasury stock
Retained earnings
Total
Total paid-in capital
Total stockholders equity
Treasury stock (18,500 shares at cost)

Stockholders Equity

Prepare the Stockholders Equity section of the balance sheet using Method 1 of

Exhibit 8

. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtractive or negative numbers use a minus sign.

1	Paid-in capital:	-	-	-
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