7. Benjamin Inc. was organized and authorized to issue 500,000 shares of $6 par value common stock on January 1. January 1 Issued 10,000 shares of common stock for $75,000. January 1 Issued 500 shares of common stock in exchange for services rendered in connection with the organization of the company. The services were valued at $3,500. January 2 Issued 25,000 shares of common stock for a building on which the asking price was $250,000. We don't have a market value of the stock for that day. February 10 Issued 5,000 shares of common stock for $50,000.