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Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 (separating sources of additional paid-in capital).

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Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 (separating sources of additional paid-in capital). Fifty thousand shares of common stock are authorized, and 2,500 shares have been reacquired. Common Stock, $60 par $2,400,000 Paid-In Capital in Excess of Par 160,000 Paid in Capital from Sale of Treasury Stock 6,060 Retained Earnings 129,000 Treasury Stock 4,560 Paid-in capital: Stockholders' Equity Common stock $60 par (50,000 shares authorized, 40,000 issued) Treasury stock (7/500 shares at cost) Total stockholders' equity 10000 0000 >

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