Santiago Corp., a publicly traded company, had 2,400 preferred shares issued with a balance of $55,200 and 141,000 common shares issued with a balance of $705.000 at the beginning of the year. The following share transactions occurred during the year: June 12 Issued 45,900 common shares for $6 per share. July 11 Issued 1,100 preferred shares for $26 per share. Oct. 1 Issued 10,100 common shares in exchange for land. The common shares were trading for $7 per share on that date. The fair value of the land was estimated to be $75,600. Issued 26,800 preferred shares for $27 per share. Nov. 15 Calculate the number of shares and balance in the account for each of the preferred and common shares at the end of the year. Number of shares Balance in accounts (1) Preferred shares (2) Common shares