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Use the following information for Exercises 4-5 below. (Algo)

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[The following information applies to the questions displayed below.] Following are the issuances of stock transactions.

1. A corporation issued 9,000 shares of $20 par value common stock for $216,000 cash.
2. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $24,000. The stock has a $1 per share stated value.
3. A corporation issued 4,500 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $24,000. The stock has no stated value.
4. A corporation issued 2,250 shares of $50 par value preferred stock for $136,500 cash.