Recording the sale of Common and Preferred Stock At the end of its first year of operations. Mulligan Corporation has outstanding shares of 154,000 common stock and 21.000 preferred stock. The State of Ohio uhores Multime 77.000 preferred stock with a par value of 535 per share and 155.000 shares of common stock with a part of 33 per share. Any referred stock solduring the year had ng price of 532.5 perc Common stock was issued at $13 Required: Prepare the journal entry to record the issuance of stock during the year