Concord Corporation is authorized to issue an unlimited number of $5 cumulative preferred shares and an unfimited number of common shares. On February 1, 2023, the general ledger contained the following shareholders' equity accourtis: The following equity transactions occurred during the year ended January 31,2024: Feb. 28 Issued 4,850 preferred shares for $266,750. Apr. 12 Issued 194,000 common shares for $3.104 million. May 25 Issued 4,850 common shares in exchange for land. At the time of the exchange, the land was valued at $72,750. Jan. 1 Paid dividend of $2.50 per share to preferred shareholders. Jan. 31 Aloss of $48,500 was incurred for the year. Concord Corporation is authorized to issue an unlimited number of $5 cumulative preferred shares and an unfimited number of common shares. On February 1, 2023, the general ledger contained the following shareholders' equity accourtis: The following equity transactions occurred during the year ended January 31,2024: Feb. 28 Issued 4,850 preferred shares for $266,750. Apr. 12 Issued 194,000 common shares for $3.104 million. May 25 Issued 4,850 common shares in exchange for land. At the time of the exchange, the land was valued at $72,750. Jan. 1 Paid dividend of $2.50 per share to preferred shareholders. Jan. 31 Aloss of $48,500 was incurred for the year