Question: Amazing Inc. issued 1,000 shares of common stock ($1 par) and 1,000 shares of preferred stock ($10 par) at a price of $100,000 on April 1. At the time of issuance, the market price of the common stock is $30 per share, and the market price of the preferred stock is $90 per share. Prepare the journal entry on April 1. Note: Carry all decimals in calculations; round the final answer to the nearest dollar.