Bramble Corporation was organized on January 1, 2022. It is authorized to issue 10,500 shares of 8%, $100 par value preferred stock, and 477,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 75,500 shares of common stock for cash at $4 per share. Mar. 1 Issued 5,650 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 25,000 shares of common stock for land. The asking price of the land was $86,500. The fair value of the land was $83,000. May 1 Issued 84,500 shares of common stock for cash at $4.25 per share. Aug. 1 Sept. 1 Nov. 1 Issued 2,500 shares of preferred stock for cash at $111 per share. Issued 11,000 shares of common stock to attorneys in payment of their bill of $41,000 for services performed in helping the company organize. Issued 10,000 shares of common stock for cash at $6 per share.