1. Benjamin Inc. was organized and authorized to issue 500,000 shares of $ 5 par value common stock on January 1, 2013.

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 dont have a market value of the stock for that day.

February 10 Issued 5,000 shares of common stock for $50,000.

5. Prepare a stockholders equity section of the balance sheet as of March 31, 2013 using the information from problem number 1. The retained earnings account had a balance of $ 4,500