DRP, inc. issued 5.000 shares of its own $10 par value preferred stock for cash of $50 per share, and issued 20,000 shares of its no-par common stock for cash of $20 per share. Prepare the required journal entries for the issuance of each class of stock. Entry for issuance of the common stock, assuming the board of directors has a stated value of $5 per share: Entry for issuance of the preferred stock: The company repurchased 2,000 shares of its common stock for $18 per share. The company resold 500 of the repurchased common shares for $22 per share. The company resold another 100 of the repurchased common shares for $16 per share