Exercise 11-11A Issuing stock for assets other than cash LO 11-4 Tom Yuppy, a wealthy investor, exchanged a plot of land that originally cost him $38,280 for 1,160 shares of $10 par common stock issued to him by Leuig Corp. On the same date, Leuig Corp. issued an additional 2,320 shares of stock to Yuppy for $33 per share. Required a. What was the value of the land at the date of the stock issue? We of the land b. Record the transactions in a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA). Investing activity (IA), or financing activity (FA). Not all cells in the Statement of Cash Flows" column may require an input leave cells blank if there is no corresponding input needed.) Assets Balance Sheet Stockholders' Equity Land Common PIC in Stock Excess Income Statement Expense - Net Income Revenue Event Statement of Cash Flows Cash 1 Exchange of land for shares 2- of additional shares