1. Plonk Corp, is authorized to issue 500,000 common shares with a par value of $2.50 per share Debbie Pionk invested $300,000 in Plonk on May 1, receiving 6,000 shares of common stock. What was the fair value per share of the common stock issued to Debbie? b. Piease write the jourmal entry on Plonk Corp 's books to record the issuance of the stock 2. Pionk Corp. purchased 300 shares of Frod Inc. stock for $12,000 on May 30. Plonk categorizes marke value of $3no eesare. on December 31" Plonk s year and, Frod shares had a fair a. Create the journal entry on Plonk's books to record the purchase of Frod stock. b. Why would it be a mistake to use the account Common Stock in your journal entry for c. Create the adjusting journal entry for Plonk to update the FVA Trading account. d lf Net income for Plonk was $57.300 and Comprehensive Income was also $57,300 before the entry in 2b, what would each of those numbers be after the 2b entry was posted? Ignore tax effects. Show your work e. Redo a, c, and d above assuming that Plonk instead categorized their stock investment on May 30 as Available for Sale