North Wind Aviation received its charter during January authorizing the following capital stock:

Preferred stock: $8$ percent, par $$10,$ authorized $20,000$ shares.

Common stock: par $$1,$ authorized $50,000$ shares.

The following transactions occurred during the first year of operations in the order given:

a$.$ Issued a total of $35,000$ shares of the common stock for $$20$ per share.

b$.$ Issued $10,000$ shares of the preferred stock at $$21$ per share.

c$.$ Issued $2,500$ shares of the common stock at $$25$ per share and $1,000$ shares of the preferred stock at $$21.$

d$.$ Net income for the first year was $$43,000,$ but no dividends were declared.