Bellvue Products Inc., a wholesaler of office products, was organized on January 30 of the current year, with an authorization...

Bellvue Products Inc., a wholesaler of office products, was organized on January 30 of the current year, with an authorization of 80,000 shares of 2% preferred stock, $75 par and 800,000 shares of $20 par common stock. The following selected transactions were completed during the first year of operations:

Jan. 30.                 Issued 300,000 shares of common stock