Blue Spruce Corp. was organized on January 1, 2017. It is authorized to issue20,700shares of5%, $51par value preferred stock and473,000shares of no-par common stock with a stated value of $3per share. The following stock transactions were completed during the first year.

Jan.10Issued66,100shares of common stock for cash at $5per share.Mar.1Issued1,175shares of preferred stock for cash at $56per share.May1Issued121,500shares of common stock for cash at $5per share.Sept.1Issued6,300shares of common stock for cash at $9per share.Nov.1Issued4,300shares of preferred stock for cash at $58per share