Roy Rodgers, the owner of a sole proprietorship, is planning to incorporate his business. His capital account has a balance of $$297,500$

after revaluation of the assets. His cash account totals $$117,500.$ He will receive $15$ percent, $$50$ par$-$value preferred stock with a total

par value equal to the cash transferred. The balance of his capital is to be exchanged for shares of $$25$ par$-$value common stock with a

total par value equal to the remaining capital.

Required:

How many shares of preferred stock and common stock should be issued to Rodgers?