Exercise 11-8A (Algo) Effect of issuing common stock on the balance sheet LO 11-4 Newly formed S\&J Iron Corporation has 78,000 shares of $6 par common stock authorized. On March 1, Year 1, S\&J lron issued 8,500 shares of the stock for $12 per share. On May 2, the company issued an additional 19,500 shares for $18 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 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? Complete this question by entering your answers in the tabs below. Record the transactions in a horizontal statements model. Note: In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity 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& 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 5&3 Iron report on the December 31 , Year 1 , balance sheet