[The following information applies to the questions displayed below.] Tarrant Corporation was organized in 2014 to operate a financial consulting business. The charter authorized the following capital stock: common stock, par value $11 per share, 12,300 shares. During the first year, the following selected transactions were completed: a. Sold and issued 6,300 shares of common stock for cash at $22 per share. b. Sold and issued 1,300 shares of common stock for cash at $27 per share. c. At year-end, the accounts reflected income of $6,800