The following press release was issued by Haynes International:

NEW YORK, March 19 (Reuters)—Haynes International Inc., a producer of high-performance nickel and cobalt-based alloys, on Monday raised $136.5 million with a U.S. initial public offering that was priced above the forecast range.

The 2.1-million-share offering was sold for $65 per share, compared with a $61 to $64 forecast range.

Required:

1. Record the issuance of stock, assuming the stock was no-par value common stock.

2. Record the issuance of stock, assuming the common stock had a par value of $1 per share.

3. Should a stockholder care whether a company issues par or no-par value stock? Explain.