2. Lump Sum Sale of Common Stock with Preferred Stock Higley Company issues 4,000 shares of S10 par common stock and 1,000 shares of $100 par preferred stock for $450,000 Instructions: (a) Prepare the journal entry for the issuance when the market price of the common stock is $80 per share and the market price of the preferred stock is $150 per share. (6) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $90 per share