On February 10, Peerless Rocks Inc., a marble contractor, issued for cash 40,000 sharesof $10 par common stock at $34, and on May 9, it issued for cash 100,000 shares of $5par preferred stock at...

On February 10, Peerless Rocks Inc., a marble contractor, issued for cash 40,000 shares of $10 par common stock at $34, and on May 9, it issued for cash 100,000 shares of $5 par preferred stock at $7. a. Journalize the entries for February 10 and May 9. b. What is the total amount invested (total paid-in capital) by all stockholders as of May 9?