Exercise 8.10 Effect of no-par common and par preferred stockn the horizontal statements model LO 8-4 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 sharee Required 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. MERCURY CORPORATION Horizontal Statements Model Balance Sheet Income Statement Stockholders' Equity RevenueExpenseNet I Statement of Cash Flow Assets - - Net Income Event CashPreferred Stock Commo StockPIC in Excess 1 - Issue of CS 2 Issue of PS