Business, 09.02.2021 05:20 ineedhelp2285

Ravonette Corporation issued 550 shares of $5 par value common stock and 300 shares of $15 par value preferred stock for a lump sum of $18,000. The common stock has a market price of $25 per share, and the preferred stock has a market price of $70 per share. Determine the amount the issuance that should go to each stock (common and preferred).

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Ravonette Corporation issued 550 shares of $5 par value common stock and 300 shares of $15 par value...

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