Monty Corporation, a private corporation, was organized on February 1, 2020, It is authorized to issue 100,000, $6 noncumulative 4.16/17 preferred shares, and an unlimited number of common shares. The following transactions were completed during the first year Feb. 10 Issued 80,000 common shares at $5.50 per share. Mar. 1 Apr. 1 June 20 July 7 Sept. 1 Nov. 1 Issued 4,900 preferred shares at $112 per share. Issued 22,300 common shares for land. The land's asking price was $133,650 and its appraised value was $122.650. Issued 79,000 common shares at $4.50 per share Issued 10,500 common shares to lawyers to pay for their bill of $47,250 for services they performed in helping the com Issued 12.000 common shares at $5.50 per share. Issued 1,200 preferred shares at $120 per share.