Momz Corporation was authorized to issue unlimited preferred shares, $0.30, no-par value, and unlimited common shares, no-par value. During the first year, the following transactions occurred:

a. 60,000 common shares were sold for cash at $12 per share and 4,000 preferred shares were sold for cash at $21 per share.

b. Share issue costs of $1 per share issued were paid for the above issue.

c. 5,000 common shares were issued as payment for the purchase of a small manufacturing facility which the company needed. This facility originally cost $95,000 and had a depreciated value on the books of the selling company of $42,000. The fair value of the facility was estimated to be $79,700.

d. 8,000 common shares were reacquired for $12.75 per share and retired.

e. A 3-for-1 stock split was declared and issued at the end of the year after all other transactions.

1. Prepare the entries to record each of the transactions listed above. Where entries are not required, specifically state it and give any alternative treatment.

2. Determine the number of common shares issued and outstanding after all of the transactions were recorded.