Using the following accounts and balances, prepare the Stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 4,500 shares have been reacquired. Use the minus sign to indicate any values that are deducted on the statement.
1 Common Stock, $40 par $1,400,000.00
2 Paid-In Capital in Excess of Par 105,000.00
3 Paid-In Capital from Sale of Treasury Stock 6,040.00
4 Retained Earnings 106,000.00
5 Treasury Stock 4,540.00