TDuring its first year of operations, Eastern Data Links Corporation entered into the following transactions relating to shareholders$$ equity. The articles of incorporation authorized the issue of $8$ million common shares, $$1$ par per share, and $1$ million preferred shares, $$50$ par per share.

February $12$ Sold $3$ million common shares, for $$10$ per share.

February $13$ Issued $43,000$ common shares to attorneys in exchange for legal services.

February $13$ Sold $83,000$ of its common shares and $2,000$ preferred shares for a total of $$950,000.$

November $15$ Issued $360,000$ of its common shares in exchange for equipment for which the cash price was known to be $$3,748,000.$