Wildhorse Co. was organized on January 1, 2022. It is authorized to issue 14,500 shares of 8%, $100 par value preferred stock, and 533,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Issued 78,000 shares of common stock for cash at $6 per share. Jan. 10 Mar. 1 Issued 4,750 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 24,000 shares of common stock for land. The asking price of the land was $87,000. The fair value of the land was $87,000. May 1 Issued 76,500 shares of common stock for cash at $4.25 per share. Aug 1 Sept. 1 Nov. 1 Issued 11,000 shares of common stock to attorneys in payment of their bill of $42,000 for services performed in helping the company organize. Issued 11,500 shares of common stock for cash at $5 per share. Issued 1,500 shares of preferred stock for cash at $108 per share. (a) Your answer is partially correct.