Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet. Thirty thousand shares of common stock are authorized, and 2,000 shares have been reacquired.

Common Stock, $80 par ..........$2,000,000

Paid-In Capital in Excess of Par ....... 315,000

Paid-In Capital from Sale of Treasury Stock ... 33,000

Retained Earnings .............. 1,112,000

Treasury Stock .............. 180,000