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Reporting Paid-In Capital The following accounts and their balances were selected from the adjusted trial balance...

Reporting Paid-In Capital

The following accounts and their balances were selected from the adjusted trial balance of Point Loma Group Inc., a freight forwarder, at October 31, the end of the current fiscal year:

Common Stock, no par, $14 stated value $1,260,000
Paid-In Capital from Sale of Treasury Stock 609,200
Paid-In Capital in Excess of Par—Preferred Stock 84,960
Paid-In Capital in Excess of Stated Value—Common Stock 3,024,000
Preferred 2% Stock, $120 par 708,000
Retained Earnings 7,506,000

Prepare the Paid-In Capital portion of the Stockholders' Equity section of the balance sheet. There are 290,000 shares of common stock authorized and 16,000 shares of preferred stock authorized.

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