Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet.

Five-hundred thousand shares of common stock are authorized, and 40,000 shares have been reacquired.

Common Stock, $120 par $48,000,000

Paid-In Capital from Sale of Treasury Stock 4,500,000

Paid-In Capital in Excess of ParCommon Stock 6,400,000

Retained Earnings 63,680,000

Treasury Stock 5,200,000