Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. 80,000 shares of common stock authorized, and 1,000 shares have been reacquired. Common Stock, $70 par $4,480,000 Paid-In Capital from Sale of Treasury Stock 90,000 Paid-In Capital in Excess of ParCommon Stock 1,216,000 Retained Earnings 2,195,000 Treasury Stock 52,000