The following selected transactions occurred during Trio Networks Corporation's first year of operations: 2020 Jan. 15 Issued 2,000 common shares to the corporation's promoters in exchange for their efforts in creating it. Their efforts are estimated to be worth $32,400. Feb. 21 19,500 common shares were issued for cash of $14 per share. Mar. 9 6,000 preferred shares were issued for cash totalling $115,100. Aug. 15 55,000 common shares were issued in exchange for land, building, and equipment with appraised values of $324,000, $429,000, and $121,000, respectively.