Ag Bio Tech (ABT) was organized on January 1 by four friends. Eacb organizer invested $5,000 in the company and, in turn, was issued 4,000 shares of common stock. To date, they are the only stockholders. During the first month (January), the company had the following five events: a. Collected a total of $20,000 from the organizers and, in turn, issued common stock. b. Purchased a building for $86,500, equipment for $28,750, and three acres of land for $24,600; paid $10,500 in cash and signed a note for the balance, which is due to be paid in 15 years. c. One stockholder reported to the company that 200 shares of his ABT stodk had been sold and transferred to another