3. (12 points) Spider Man LLC Inc. has issued 3,000 shares of common stock and 1,500 shares of preferred stock for a lump sum of $180,000 cash. Instructions (a) Give the entry for the issuance assuming the par value of the common stock was $10 and the fair value $25, and the par value of the preferred stock was $25 and the fair value $100. (Each valuation is on a per share basis and there are ready markets for each stock.) (b) Give the entry for the issuance assuming the same facts as (a) above except the preferred stock has no ready market and the common stock has a fair value of $32 per share