1 of 31 View Policies Current Attempt in Progress -13 Waterway Industries issues 6700 shares of its $5 par value common stock having a fair value of $25 per share and 9700 shares of its $15 par value preferred stock having a fair value of $30 per share for a lump sum of $312000. The proceeds allocated to the common stock is O $141500 O $198020 O $167500 $113980 Save for Later Attempts: 0 of 1 used Submit