Marin Inc. issues 500 shares of $10 par value common stock and 100 shares of $100 par value preferred stock for a lump sum of $106,000.

(a) Prepare the journal entry for the issuance when the market price of the common shares is $176 each and market price of the preferred is $220 each.

(b) Prepare the journal entry for the issuance when only the market price of the common stock is known and it is $182 per share.