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  3. mercury corporation issued 8,500 shares of no-par

Mercury Corporation issued 8,500 shares of no-par common stock for $25 per share. Mercury also...

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Accounting

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Mercury Corporation issued 8,500 shares of no-par common stock for $25 per share. Mercury also issued 2,400 shares of $45 par, 6 percent noncumulative preferred stock at $55 per share. Required Record these events 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 an element was not affected by the event, leave the cell blank. MERCURY CORPORATION Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Flow Assets Revenue Expense Net Income Stockholders' Equity Common + Stock Event Cash Preferred Stock = PIC in Excess = 1 - Issue of CS = + + = 2 - Issue of PS + + =

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