Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. 60,000 shares of common stock authorized, and 1,000 shares have been reacquired.

Common Stock, $40 par $1,440,000

Paid-In Capital from Sale of Treasury Stock $43,000

Paid-In Capital in Excess of ParCommon Stock $360,000

Retained Earnings $792,000

Treasury Stock $27,000

Stockholders' Equity Paid-In Capital: Total Paid-in Capital Total Total Stockholders' Equity