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3. Jordan. T Holdings Inc. is authorized to issue 40 000 convertible preferred shares with a par value of $20 and an unlimited number of no par value common shares. The preferred shares can be converted into common shares at a ratio of 1:4. a. Issued 12 000 preferred shares at par value. b. Exchanged 2 000 common shares for a large office printer valued at $2 300. c. Our consultancy fees for our organizational costs were $1 500. We issued 150 shares of preferred stock to our solicitors. d. We sell 30 000 shares of common stock for $1.60 per share. e. We sell 1 600 shares of preferred stock at $14 each. f. We purchase 1 800 of our preferred shares back at par value. g. One of our shareholders exercises their option and converts 2 500 preferred shares for common stock. h. Executed a 2 for 1 common stock split