At the end of its first year of operations, Mulligan Corporation has outstanding shares of $75,000$ common stock and $23,000$ preferred stock. The State of Michigan authorized Mulligan to issue $24,000$ shares of $6\%$ preferred stock with a par value of $$40$ per share and $76,000$ shares of common stock with a par value of $$8$ per share. Any common stock sold during the year had a selling price of $$18$ per share. Mulligan$$s preferred stock was issued at $$52\mathrm{.}00.$