Parker Corporation has issued 1500 shares of common stock and 300 shares of preferred stock for a lump sum of $54,000 cash. give the entry for the issuance assuming the par value of the common stock was $5 and fair value was $30 and the par value of the preferred stock was $40 and the fair value was $50. Each valuation is on a per share basis and there are ready markets for each stock there are five entries. next give the entry for the issuance assuming the same facts as the par value of the common stock was $5 and the fair value of $26 per share and the par value of the preferred stock was $40 and has no ready Market there are five entries.