What is the significance of the par value on a preferred stock? What is the significance of

Question:

What is the significance of the on a preferred stock? What is the significance of the on a common stock?

Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...