Concord Corporation was organized on January 1, 2022. It is authorized to issue 14,000 shares of 8% $100 par value preferred stock and 511,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan 10 Mar 1 Apr. 1 Issued 82,000 shares of common stock for cash at $6 per share. Issued 4,850 shares of preferred stock for cash at $105 per share. Issued 25,000 shares of common stock for land. The asking price of the land was $93,000. The fair value of the land was $82,000 May 1 Issued 76,500 shares of common stock for cash at $4.50 per share. Aug 1 Sept. 1 Nov. 1 Issued 11.000 shares of common stock to attorneys in payment of their bill of $41.500 for services performed in helping the company organize. Issued 12,000 shares of common stock for cash at $7 per share. Issued 2.500 shares of preferred stock for cash at $112 per share.