Kathleen Battle Corporation was organized on January 1, 2014. It is authorized to issue 10,610 shares of 8%, $68 par value preferred stock, and 549,000 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 80,030 shares of common stock for cash at $6 per share.
Mar. 1		Issued 5,080 shares of preferred stock for cash at $112 per share.
Apr. 1		Issued 24,480 shares of common stock for land. The asking price of the land was $90,670; the fair value of the land was $80,030.
May 1		Issued 80,030 shares of common stock for cash at $9 per share.
Aug. 1		Issued 10,610 shares of common stock to attorneys in payment of their bill of $50,380 for services rendered in helping the company organize.
Sept. 1		Issued 10,610 shares of common stock for cash at $11 per share.
Nov. 1		Issued 1,950 shares of preferred stock for cash at $112 per share.