Stillwater Corporation was organized in January 2000. The state authorized 100.000 shares of no-par common stock and 50,000 shares of 10 percent, $\$ 20$ par, preferred stock. Record the following transactions that occurred in 2000.

a. Issued 10,000 shares of common stock at $\$ 30$ per share.

b. Issued 2,000 shares of preferred stock for a building appraised at $\$ 60,000$.

c. Declared a cash dividend sufficient to meet the current-dividend preference on preferred stock and pay common shareholders \$2 per share.