Alexia Corporation was organized on January 1, 2012. It is authorized to issue 11,800 shares of 8%, $103 par value preferred stock, and 471,400 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year.

Jan. 10		Issued 79,800 shares of common stock for cash at $6 per share.
Mar. 1		Issued 4,700 shares of preferred stock for cash at $109 per share.
Apr. 1		Issued 22,700 shares of common stock for land. The asking price of the land was $94,000. The fair value of the land was $84,000.
May 1		Issued 77,500 shares of common stock for cash at $6.83 per share.
Aug. 1		Issued 11,700 shares of common stock to attorneys in payment of their bill of $42,900 for services provided in helping the company organize.
Sept. 1		Issued 11,100 shares of common stock for cash at $8 per share.
Nov. 1		Issued 1,580 shares of preferred stock for cash at $112 per share.