Gilligan Corporation was established on February $15,$ Year $1.$ Gilligan is authorized to issue $500,000$ shares of $$6\mathrm{.}00$ par value common stock.

As of December $31,$ Year $3,$ Gilligan's stockholders' equity accounts report the following balances:

$\backslash$table$[[$Common stock, $$6$ par, $500,000$ shares authorized, $55,000$ shares,$],[$issued and outstanding,$$330,000$