Baird products inc, a wholesalers of office products, was organized on jan 30 of the current year, with an authorization of 80,000 shares of 2% preffered stock, $75 par and 800,000 shares of $20 par common stock. The following selested transaction were completed during the first year of operations:

Issued 300,000 shares of common stock par for cash

Issued 750 shares of common sock at par to an attorney in payment of legal fees for organizing the corporation