Tony and Suzie purchased land costing $420,000 for a new camp in January 2014. Now they need money to build the cabins, dining facility, a ropes course, and an outdoor swimming pool. Tony and Suzie first checked with Summit Bank to see if they could borrow another million dollars, but unfortunately the bank turned them down as too risky. Undeterred, they promoted their idea to close friends they had made through the outdoor clinics and TEAM events. They decided to go ahead and sell shares of stock in the company to raise the additional funds for the camp. Great Adventures has two classes of stock authorized: 9%, $10 par preferred and $1 par value common.

When the company began on July 1, 2012, Tony and Suzie each purchased 11,500 shares of $1 par value common stock at $1 per share. The following transactions affect stockholders