Specialty Auto Racing Inc. retails racing products for BMWS, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing on July 31, the end of the current year: Common Stock, $10 par Paid-In Capital from Sale of Treasury Stock-Common Paid-In Capital in Excess of Par-Common Stock Paid-In Capital in Excess of Par-Preferred Stock Preferred 4% Stock, $50 par Retained Earnings Treasury Stock-Common One hundred thousand shares of preferred and 400,000 shares of common stock are authorized. There are 3,800 shares of common stock held as treasury stock. $960,000 72,400 288,000 66,900 1,115,000 3,052,800 41,800 Prepare the Stockholders' Equity section of the balance sheet as of July 31, the end of the current year using Method 1 of Exhibit 9. Specialty Auto Racing Inc. Stockholders' Equity July 31, 20XX Paid-In Capital: Preferred 4% Stock, $50 Par (100,000 Shares Authorized, 22,300 Shares Issued) v 1,115,000 Excess of Isue Price Over Par v х Paid-in capital, preferred stock y Common Stock, $10 Par (400,000 Shares Authorized, 96,000 Shares Issued) y 960,000 Excess of Issue Price Over Par v Paid-in capital, common stock v From Sale of Treasury Stock v 72,400 Total Paid-In Capital Retained Earnings v Total Treasury Stock (3,800 Shares at Cost) v 41,800 Total Stockholders' Equity