Recording the Sale of Cammon and Preferred Stock At the end of its best year of operations, Muligan Corporation has outstanding shares of 104,000 common stock and 1,700 preferred stock. The State of Michigan authored Mug to 3,000 shares of 6% preferred stock with a par value of $30 per share and 110,000 shares of commun stack with a par value of $0.01 per share. Any sammon stock wild during the year had a selling price of $19.25 per share. Mulligan's preferred stock was issued at $53.00 Required: Prepare the journal entry to record any nuancar of stock during the year If an amount box does not require an weery leave a blank.