Adventure Outfitters issues $2,600$ shares of its $$0\mathrm{.}01$ par value common stock to provide funds for further expansion. Assume the issue price is $$12$ per share.

Determine the financial statement effects of the issuance of common stock.Adventure Outfitters issues $2,600$ shares of its $$0\mathrm{.}01$ par value common stock to provide funds for further expansion. Assume the issue

price is $$12$ per share.

Determine the financial statement effects of the issuance of common stock.