Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet using Method 1 of Exhibit 8. 20,000 shares of common stock authorized, and 2,000 shares have been reacquired. Common Stock, $60 par $960,000 Paid-In Capital from Sale of Treasury Stock 38,000 Paid-In Capital in Excess of ParCommon Stock 304,000 Retained Earnings 518,000 Treasury Stock 18,000

Common Stock, $60 par	$960,000
Paid-In Capital from Sale of Treasury Stock	38,000
Paid-In Capital in Excess of ParCommon Stock	304,000
Retained Earnings	518,000
Treasury Stock