dentifying Financial Statement Effects of Stock Issuance and Repurchase On January 1 , Arcola Company issues 10,000 shares of $100 par value preferred stock at $450 cash per share. On March 1, the company repurchases 10,000 shares of previously issued $1 bar value common stock at $306 cash per share. Use the financial statement effects template to record these two transactions. Jse negative signs with answers, if appropriate