Sheffield Corporation, a private corporation, was organized on February $1,2023.$ It is authorized to issue $91,200,$ $$6$ noncumulative preferred shares, and an unlimited number of common shares. The following transactions were completed during the first year: Feb. $10$ Issued $72,960$ common shares at $$4$ per share. Mar. $1$ Issued $4,560$ preferred shares at $$114$ per share. Apr. $1$ Issued $20,520$ common shares for land. The land's asking price was $$91,200$ and its appraised value was $$82,080.$ June $20$ Issued $71,136$ common shares at $$4\mathrm{.}50$ per share. July $7$ Issued $9,120$ common shares to lawyers to pay for their bill of $$41,040$ for services they performed in helping the company organize. Sept. $1$ Issued $9,120$ common shares at $$5$ per share. Nov. $1$ Issued $912$ preferred shares at $$120$ per share.