Monty Corporation was organized on January 1, 2022. It is authorized to issue 14.000 shares of 8%, $100 par value preferred stock, and 550,000 shares of no par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. Mar. 10 Apr. 1 Issued 80,500 shares of common stock for cash at $6 per share. 1 Issued 4,400 shares of preferred stock for cash at $105 per share. Issued 24,500 shares of common stock for land. The asking price of the land was $86,000. The fair value of the land was $87,500. May 1 Issued 85,000 shares of common stock for cash at $4.25 per share. Aug 1 Sept. 1 Nov. 1 Issued 10,000 shares of common stock to attorneys in payment of their bill of $45,000 for services performed in helping the company organize. Issued 10,000 shares of common stock for cash at $6 per share. Issued 1,500 shares of preferred stock for cash at $115 per share. Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part Mar 1 Preferred Stock 462000 000,000000 00000,00 New 1 172500 634500 Common Stock Ba Ma1 Paid-in Capital in Excess of Par-Preferred Stock