Sarasota Corp. was organized on January 1, 2022. It is authorized to issue 20,800 shares of 5%, $52 par value preferred stock and 464,000 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. 10 Mar. 1 May 1 Sept. Nov. 1 1 Issued 72000 shares of common stock for cash at $4 per share. Issued 1,240 shares of preferred stock for cash at $55 per share. Issued 117,000 shares of common stock for cash at $8 per share. Issued 5,400 shares of common stock for cash at $9 per share. Issued 3,400 shares of preferred stock for cash at $56 per share.