Cheyenne corp. was organized on january 1, 2022. it is authorized to issue 21,000 shares of 7%, $53 par value preferred stock and 454,000 shares of no-par common stock with a stated value of $2 per share. the following stock transactions were completed during the first year. jan. 10 issued 67,000 shares of common stock for cash at $4 per share. mar. 1 issued 1,140 shares of preferred stock for cash at $56 per share. may 1 issued 112,000 shares of common stock for cash at $7 per share. sept. 1 issued 4,400 shares of common stock for cash at $8 per share. nov. 1 issued 2,400 shares of preferred stock for cash at $56 per share.