O O Fulmer Corp. jointly issued 1,000 shares of $1 par Common Stock and 500 shares of $50 par Preferred Stock for a lump sum of $35,000. The quoted market price of the common stock at the time of issuance was $3 per share, while the fair value of the preferred stock was unknown. One month later, Fulmer repurchased 500 shares of its outstanding common stock at a price of $2 per share. Record the journal entry for each stock transaction. Assuming Fulmer Corp has never had any other equity transactions, calculate the total number of common shares issued and outstanding. O