Exercise 11-7A (Algo) Cash dividends for preferred and common shareholders LO 11-3 Weaver Corporation had the following stock issued and outstanding at January 1. Year 1. 1. 101,000 shares of $11 par common stock. 2.7,000 shares of $130 par, 5 percent, noncumulative preferred stock. On June 10, Weaver Corporation declared the annual cash dividend on its 7,000 shares of preferred stock and a $3 per share dividen- for the common shareholders. The dividends will be paid on July 1 to the shareholders of record on June 20. Required Determine the total amount of dividends to be paid to the preferred shareholders and common shareholders. Preferred stock Common stock CS Scanned with CamScanner Exercise 11-8A (Algo) Effect of issuing common stock on the balance sheet LO 11-4 Newly formed S&J Iron Corporation has 179,000 shares of $6 par common stock authorized. On March 1, Year 1, S&J Iron issued 8,000 shares of the stock for $12 per share. On May 2, the company issued an additional 19,000 shares for $21 per share. S&J Iron was not affected by other events during Year 1. Required a. Record the transactions in a horizontal statements model. 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 pald-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? letu this question by entering your answers in the tots Dus hetets leder oped Complete this question by entering your answers in the tabs below. Reg A Reg B to E Book Record the transactions in a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), in financing activity (FA). Not all cells require input.) Hint Income Statement S&T IRON CORPORATION Horizontal Statements Model Balance Sheet Llabilities Stockholders' Equity Revenue Common PIC In Stock Excoss Assets Expenso Net Income Statement of Cash Flows Event Canh March 1 May 2 CS Scanned with CamScanner Reglo > Skipped Complete this question by entering your answers in the tabs below. eBook Req A Req B to E Hint b. Determine the amount S&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 SJ Iron report on the December 31, Year 1, balance sheet? Show less Print Common stock c. Paid-in capital in excess of par d. Total paid-in capital e. Total assets