The following accounts and their balances were selected from the unadjusted trial balance of REO Inc., a freight forwarder, at October 31, the end of the current fiscal year:
Preferred 2% Stock, $100 par . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 750,000
Paid-In Capital in Excess of Par—Preferred Stock . . . . . . . . . . . . . 90,000
Common Stock, no par, $5 stated value . . . . . . . . . . . . . . . . . . . 400,000
Paid-In Capital in Excess of Stated Value—Common Stock . . . . . . 960,000
Paid-In Capital from Sale of Treasury Stock . . . . . . . . . . . . . . . . . 25,000
Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,150,000
Prepare the Paid-In Capital portion of the Stockholders’ Equity section of the balance sheet. There are 250,000 shares of common stock authorized and 20,000 shares of preferred stock authorized.