Issuing Par Stock On January 29, The Stone Store Inc., a granite contractor, issued 150,000 shares of $20 par Common stock for cash at $46 per share, and on May 31, it issued 200,000 shares of $8 par Preferred stock for cash at $12 per share. a. Illustrate the effects on the accounts and financial statements of the January 29 transaction. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. Assets Jan. 29. Statement of Cash Flows Balance Sheet Liabilities Stockholders' Equity Income Statement Illustrate the effects on the accounts and financial statements of the May 31 transaction. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. May 31. Assets Statement of Cash Flows Balance Sheet Liabilities Stockholders' Equity Income Statement