Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet using method 1 of exhibit 8. five-hundred thousand shares of common stock are authorized, and 40,000 shares have been reacquired. common stock, $120 par $48,000,000 paid-in capital from sale of treasury stock 4,500,000 paid-in capital in excess of par—common stock 6,400,000 retained earnings 63,680,000 treasury stock 5,200,000