Maxville Company issues 350 shares of $40 par feferred stock and 1,000 shares of $5 par common stock in a "package" sale on December 31. Total proceeds received amount to $38,500. Required: Record the transaction for each independent assumption shown 1. The common stock has a current market value of S19 per share the current market value of preferred stock is not known. 2. The common stock and the preferred stock have a current market value per share of 22 and 859, respectively