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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

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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 1,000 shares have been reacquired. Common Stock, $30 par $480,000 Paid-In Capital from Sale of Treasury Stock 10,000 Paid-In Capital in Excess of Par-Common Stock 176,000 Retained Earnings 230,000 Treasury Stock 6,000 Stockholders' Equity Paid-in capital: Total Paid-In Capital Total Stockholders' Equity 100

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