instead of $$2$ par value common stock can you do $$1$ par value common stock

C) Question 8 11 pts Sprhg Company is authorized to issue 5m.O)O shares Of $2 value conv'un stock In its first year. the company has the following transactions: Mar. Apr. 10 Issued 40.000 shares Of stock at $9.75 per share Issued 1.000 shares Of stock for legal services valued at $10,000 Purchased 1.000 shares of treasury stock at $9 per share Journalize thc transactions and calculate how many shares Ot stock are outstanding at August 3.