Exercise 8-11 Issuing stock for cash LO 8-4 Tom Yuppy, a wealthy investor, paid $54,120 for 1,320 shares of $10 par common stock issued to him by Leung Corp. A month later, Leuig Corp. issued an additional 2,640 shares of stock to Yuppy for $41 per share. Required: Show the effect of the two stock issues on Lewig's books 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). If on element was not affected by the event, leave the cell blank LEUIG CORP Horizontal Statements Model Balance Sheet Income Statement Assets Revenue Expense Net Income Event Stockholders' Equity Common PIC in Stock EXCESS Statement of Cash Flow Cash Land 1 - Common Stock 2 - Issue of additional shares