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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

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 4,500 shares have been reacquired.

Common Stock, $60 par $1,980,000
Paid-In Capital in Excess of Par 132,000
Paid in Capital from Sale of Treasury Stock 6,060
Retained Earnings 132,000
Treasury Stock 4,560

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