Prytania Corporation is authorized to issue 1,000,000 shares of $ 5 Par value common stock During 2017, its first year of operation, the company has the following stock transactions. Paid the state $5,000 for incorporation fees. Issued 500.000 shares of stock at $6 per share. Attorneys for the company accepted 500 shares of common stock as payment for legal services rendered in helping the company incorporate. The legal services are estimated to have a value of $7,000. Issued 100,000 shares of stock for land. The land had an asking price of $900,000. The stock is currently selling on a national exchange at $8 per share. Purchased 15,000 shares of common stock for the treasury at $9 per share. Sold 11,000 shares of the treasury stock at $11 per share. the transactions for Britannia Corporation. stockholders' equity section of Makoto Corporation's balance sheet at December 31 pears below: Stockholders' equity Common stock, $ 10 par value. 400,000 shares authorized; 250,000 issued and outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings Total stockholders' equity 2017. the following stock transactions Issued 50,000 shares of common stock at $32 per share