A gain on the sale of stock is a part of the transaction. The common stock was sold at a discount the stated value of the common stock is less than…

A gain on the sale of stock is a part of the transaction. The common stock was sold at a discount the stated value of the common stock is less than the per share price investors were willing to pay. (S.0.3) Aguirre Company issues 500 shares of its $5 par value common stock having a market value ofS25 per share and 750 shares of its SI5 par value preferred stock having a market value ofS20 per share for a lump sum of $24,000. How would the proceeds be allocated between the common and preferred stock? A. B. C. D. the fair market value of the stock issued.