Stock Transactions for Corporate Expansion Vaga Optics produces medical lasers for use in hospitals. The following accounts and their balances appear in the ledger of Vaga Optics on December 31 of the current year: Preferred 2% Stock, $120 par (50,000 shares authorized, 25,000 shares issued) 3,000,000 Paid-In Capital in Excess of Par-Preferred stock Common stock, $75 par (500,000 shares authorized, 300,000 shares issued Paid-In Capital in Excess of Par-Common stock Retained Earnings At the annual stockholders meeting on January 31, the board of directors presented P an or modem zing and expanding plant operations at cost of approximately $9,500,000. The par provided s) that he corporation borrow S4 500 000 b that 20,000 shares of the unissued Preferred stock be issued through an underwriter, and (c) that a building, valued at $1,200,000, and the land on which it is located, valued at 5900,000, be acquired in accordance with preliminary negotiations by the issuance of 27,400 shares of Common stock. The plan was approved by the stockholders and accomplished by the following transactions: Mar. 8, Borrowed S4,500,000 from Conrad National Bank, giving a 6% mortgage note. 400,000 22,500,000 540,000 5,000,D00 13. Issued 20,000 shares of Preferred stock, receving $130 per share in cash 26. Issued 27,400 shares of Common stock in exchange for land and a bui ding, according to the plan. No other expansion-related transactions occurred during March Illustrate the effects on the accounts and financial statements of the Mar 8, transaction. If no account or activity is affected, select "No effedt" from the dropdown list and leave the coresponding number entry box blank. Enter account decreases and cash outflows as negatiwe amounts. Balance Sheet Statement of Liabilities Assets Cash Flows Equity s Mortgage note payable + No effect Cash Mar. 8 Statement of Cash Flows Income Statement Financing No elfect illustrate the effects on the accounts and financial statements of the Mar. 13 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 emounts Balance Sheet Statement of Assets Cash Flows No e"ect V Preferred stock V Cash v Paid-in capital in excess ol par-preferred stock + + = Mar. 13. Statement of Cash Flows Income Statement No effect 1 ustrate he e ects on the accounts and financial statements of the Mar. 2:6 ransact on f noccount or activity is affected, select No e ect from the dropdown lis nd eave the corresponding number entry box bank. Enter account decreases nd cash ou flows as negative mounts Balance Sheet Cash lows Building + Land - No effect+Common stock +Paid-in capital in excess of par-c stock v Mar. 26. Statement of Cash Flows Tncome Statement No effect No effect