3. Hema Co. had the following transactions during the current period Mar2 issued 15,000 shares of $3 par value common stock in exchange for attorney services in the amount of $50,000 for helping to organize the corporation. Apr 28 June 12 July 11 Issued 60,000 shares of $3 par value common stock for cash of $275,000 issued 1,000 shares of $80 par value preferred stock for cash at $110 per share. Purchased 2,000 shares of treasury stock for $80,000 Instructions: a. Journalize the above transactions for Hema Co. Date Account Tities and Explanation Debit Credit The corporate charter of Hunter Corporation allows the issuance of a maximum of 2,000,000 shares of $3 par value common stock. During its first three years of operation, Hunter issued 1,000,000 shares at $8 per share. It later acquired 100,000 of these shares as treasury stock for $12 per share. Instructions Based on the above information, answer the following questions: (a) How many shares were authorized? shares (b) How many shares were issued? shares (c) How many shares are outstanding? shares (Room for Taccounts)