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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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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. X Answer is not complete. MERCURY CORPORATION Horizontal Statements Model Balance Sheet Income Statement Statement of Cash Flow Assets II Stockholders' Equity Revenue Expense Net Income = Event Cash II Preferred Stock + Common Stock + PIC in Excess - 17,000 X II + + - 1 - Issue of CS 2 - Issue of PS 108,000 X + +

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