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  3. the preferred stock was issued for $171,360 cash.

The preferred stock was issued for $171,360 cash. All common stock issued was for cash....

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Accounting

The preferred stock was issued for $171,360 cash. All common stock issued was for cash. In November 5,440 shares of common stock were purchased for the treasury at a per share cost of $11. No dividends were declared in 2014.

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