Grouper Corp. was organized on January 1, 2025. It is authorized to issue 22,000 shares of 6%, $50 par value preferred stock and 456,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 68,000 shares of common stock for cash at $4 per share. Mar. 1 Issued 14,000 shares of preferred stock for cash at $53 per share. May 1 Issued 113,000 shares of common stock for cash at \$6 per share. Sept. 1 Issued 4,600 shares of common stock for cash at $5 per share. Nov. 1 Issued 2,600 shares of preferred stock for cash at \$56 per share