Required information Use the following information for Exercises 4-5 below. (Algo) [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $57,500. The stock has a $2 per share stated value. 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $57,500. The stock has no stated value. 4. A corporation issued 1,500 shares of $75 par value preferred stock for $170,000 cash. Required information Use the following information for Exercises 4-5 below. (Algo) [The following information applies to the questions displayed below.] Following are the issuances of stock transactions. 1. A corporation issued 6,000 shares of $10 par value common stock for $72,000 cash. 2. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $57,500. The stock has a $2 per share stated value. 3. A corporation issued 3,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $57,500. The stock has no stated value. 4. A corporation issued 1,500 shares of $75 par value preferred stock for $170,000 cash