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 $49.920 for 1.280 shares of $10 par common stock issued to him by Leuig Corp. On the same date, Leuig Corp. issued an additional 2,560 shares of stock to Yuppy for $39 per share Required .. What was the value of the land at the date of the stock issue? 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.) Income Balance Sheet Stockholders' Equity Comun PIC IN Land Revenue Event 1 - Exchange of land for shares 2 - Issue of additional shares