Westby Corp., a high school uniform manufacturer, was authorized to issue an unlimited number of common shares. During January

$2023,$ its first month of operations, the following selected transactions occurred:

Jan. $11,000$ shares were issued to the organizers of the corporation. The total value of the shares was

determined to be $$11,200.$

$515,000$ shares were sold to various shareholders for $$12\mathrm{.}70$ each.

$15$ The board of directors declared a cash dividend of $$0\mathrm{.}67$ per common share to shareholders of

record on January $19,$ payable January $31.$

$204,000$ shares were issued in exchange for a special piece of land with a book value of $$44,800,$ but

no determined Fair Market Value. The shares were actively trading on this date at $$10\mathrm{.}70$ per

share.

$31$ Closed the Income Summary account, which showed a credit balance of $$157,000.$

$31$ Paid the dividends declared on January $15.$

Required:

a$.$ Journalize the above transactions. The Company does not use a Cash Dividends Account.

b$.$ Prepare the equity section of Westby's balance sheet at January $31,2023.$

c$.$ What was the average issue price per common share? $($Round your answer to $2$ decimal places.$)$