Novak Corporations charter authorized issuance of 110,000 shares of $10 par value common stock and 49,300 shares of $50 preferred stock. The following transactions involving the issuance of shares of stock were completed. Each transaction is independent of the others. 1. Issued a $10,700, 9% bond payable at par and gave as a bonus one share of preferred stock, which at that time was selling for $97 a share. 2. Issued 480 shares of common stock for equipment. The equipment had been appraised at $7,500; the sellers book value was $5,700. The most recent market price of the common stock is $16 a share. 3. Issued 373 shares of common and 107 shares of preferred for a lump sum amounting to $9,800. The common had been selling at $14 and the preferred at $67. 4. Issued 180 shares of common and 51 shares of preferred for equipment. The common had a fair value of $16 per share; the equipment has a fair value of $6,900.