Cake Assignment/take AssignmentMain.do?invoker=&takeAssignmentSession Locator assignment-take&inprogress=false e o eBook Calculator Stockholders' Equity Section of Balance Sheet Specialty Auto Racing Inc. retails racing products for BMW, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Specialty Auto Racing Inc. on July 31, the end of the current year: Common Stock, $36 par $10,080,000 Paid-In Capital from Sale of Treasury Stock-Common 340,000 Paid In Capital in Excess of Par-Common Stock 420,000 Paid-In Capital in Excess of Par-Preferred Stock 384,000 Preferred 1% Stock, $150 par 7,200,000 Retained Earnings 71,684,000 Treasury Stock-Common 1,000,000 Fifty thousand shares of preferred and 300,000 shares of common stock are authorized. There are 24,000 shares of common stock held as treasury stock Prepare the Stockholders' Equity section of the balance sheet as of July 31, the end of the current year using Method 1 of Exhibit 8. Specialty Auto Racing Inc. Stockholders quity July 31, 20xx Pald-In Capital: Preferred 19 Stock, $150 Par (50,000 shares authorized, 48,000 shares issued) Excess over Par V Paid in Capital, Preferred Stock Previous Next Check My Work CK 11:05 AM 9/10/2020 RI ED 1 3