year:Common Stock, no par, $$5$ stated valuePaid$-$In Capital from Sale of Treasury Stock Paid$-$In Capital in Excess of Par$-$Preferred Stock Paid$-$In Capital in Excess of Stated Value Common Stock$$250,000201,50088,800600,000$Preferred $2\%$ Stock, $$100$ parRetained Earnings$740,0002,482,000$Prepare the Paid$-$In Capital portion of the "Stockholders" Equity" section of the balance sheet using Method $1$ of Exhibit $10.$ There are $160,000$ shares of common stock authorized and $20,000$ shares of preferred stock authorized.