3 Mercury Corporation issued 6,000 shares of no-par common stock for $45 per share. Mercury also issued 3,000 shares of $50 par, 5 percent noncumulative preferred stock at $52 per share. Required a. Record these events in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Use NA to indicate that an element was not affected by the event. Income Statement Expense Assets Revenue Net Income Cash Flow BOOK Event Cash Balance Sheet Stockholders' Equity Preferred Common Stock Stock 270,000 150,000+ PIC in Excess + 1 - Issue of CS 2 - Issue of PS 270,000 156.000 225.000 156,000 IFA FA 6,000 B b. Prepare journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Book 1 2 > Record the issue of common stock. encos Note: Enter debits before credits General Journal Debit Credit 1 Record entry Clear entry View general Journal