Stock Issuances and Repurchase Langley Company began operations on January 1, 2011. London is authorized to issue 500,000 shares of $10 par value common stock. Record the following selected transactions for Langley during 2011 and 2012: 1/1/11 Issued 200,000 shares of common stock for $50 per share. 3/1/12 Issued 500 shares of common stock to attorneys in payment of a bill for $22,000 for services rendered in helping the company to incorporate. 6/1/12 Purchased 4,000 shares of treasury stock for $55 per share. 8/1/12 Resold 1,000 shares of the treasury stock for $60 per share. 9/1/12 Resold 2,000 shares of the treasury stock for $45 per share