Roy Rodgers, the owner of a sole proprietorship, is planning to incorporate his business. His capital account has a balance of $308,750 after revaluation of the assets. His cash account totals $125,000. 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? Shares $ Preferred stock Common stock Value Par Value 125,000 $ 50 I 25