3 Newly formed S&J Iron Corporation has 145,000 shares of $4 par common stock authorized on March 1, Yeart, S&J Iron issued 11,000 shares of the stock for $10 per share. On May 2, the company issued an additional 23,000 shares for $22 per share. S&J Iron was not affected by other events during Year 1. Required a. Record the transactions in a horizontal statements modet. In the Cash Flow column, Indicate whether the item is an operating activity (OA), Investing activity (A), or financing activity (FA). Use NA to indicate that an element was not affected by the event. 2 points Sipped Income Statement Expense - Net Income Revenue Cash Flow Assets Balance Sheet Liabilities Stockholders' Equity Common PIC in Stock Excess Event Cash 110.000FA 505.000FA Book March 1 May 2 110,000 506,000 - Print References b. Determine the amount S&J Iron would report for common stock on the December 31, Year 1 balance sheet c. Determine the amount S&J tron would report for pald-in capital in excess of par. contributed by the owners? Seved mework 11 3 b. Determine the amount S&J Iron would report for common stock on the December 31, Year 1, balance sheet. c. Determine the amount S&J Iron would report for paid-in capital in excess of par. d. What is the total amount of capital contributed by the owners? e. What amount of total assets would S&J Iron report on the December 31, Year 1, balance sheet? b. ats c. d. Common stock Pald-in capital in excess of par Total paid-in capital Total assets Skipped e. eBook Print f. Prepare journal entries to record the March 1 and May 2 transactions. (If no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) eferences View transaction list Journal entry worksheet