Exercise 11-8A (Algo) Effect of issuing common stock on the balance sheet LO 11-4 Newly formed S&J Iron Corporation has 74,000 shares of $7 par common stock authorized on March 1 Yeart S&J tron issued 11,000 shares of the stock for $9 per share. On May 2, the company issued an additional 17.500 shares for $21 per share stron 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. RA 8 tot Record the transactions in a horteostal statements model in the statement of Cash Flows column, indicate whether the item is an operating acte (Cantong at financing activity (A). Not all cells require input.) SAJIRON CORPORATION Horizontal Statements Modal Balance Sheet Income Statement Assets Liabilities Stockholders' Equity Revenue Statement of Cash Net income Flow Even Common Pic in Stock Excess March May 2 .. RegleE> Complete this question by entering your answers in the tabs below. Reqa Reqs to E b. Determine the amount SJ Iron would report for common stock on the December 31, Year 1, balance sheet. c. Determine the amount 56) 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? Show less b. Common stock Paid in capital in excess of par d. Total paid in capital e. Total assets