The stockholders equity accounts of Concord Corporation on January 1, 2020, were as follows.

Preferred Stock (8%, $48 par, 11,000 shares authorized)		$ 360,000
Common Stock ($1 stated value, 2,100,000 shares authorized)		1,300,000
Paid-in Capital in Excess of ParPreferred Stock		150,000
Paid-in Capital in Excess of Stated ValueCommon Stock		1,450,000
Retained Earnings		1,850,000
Treasury Stock (10,500 common shares)		52,500

During 2020, the corporation had the following transactions and events pertaining to its stockholders equity.

Feb.	1		Issued 24,000 shares of common stock for $118,000.
Apr.	14		Sold 5,500 shares of treasury stockcommon for $33,800.
Sept.	3		Issued 4,900 shares of common stock for a patent valued at $35,100.
Nov.	10		Purchased 1,000 shares of common stock for the treasury at a cost of $6,100.
Dec.	31		Determined that net income for the year was $475,000.

No dividends were declared during the year.