Exercise 11-8A Effect of issuing common stock on the balance sheet LO 11-4 Newly formed S8.) Iron Corporation has 110,000 shares of $6 por common stock authorized on March 1, Year 1, S&J Iron issued 8,500 shares of the stock for $12 per share on May 2 the company issued an additional 23,000 shares for $20 per share, S&J Iron was not affected by other events during Year 1 Required a. Record the transactions in a horizontal statements model in the Statement of Cosh Flows column, indicate whether the item is an operating activity (OA), Investing activity (A), 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.) b. Determine the amount 58tron would report for common stock on the December 31, Year 1. balance sheet c. Determine the amount 58 Iron would report for pald-in capital in excess of por d. What is the total amount of capital contributed by the owners? .. What amount of total assets would $8) Iron report on the December 31. Yeart, balance sheet? Complete this question by entering your answers in the tabs below. Red A Reto E Record the transactions in a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA) lengo finanong activity (FA). Not all cells in the Statement of Cash Flows column may require an input leave celle blank if there is no corresponding input needed S&J IRON CORPORATION Horizontal Statement Model Balance Sheet Income Statement Liabilities Stockholders Common Pin Stock Entes AR Net ne March 1 May 2 He to > Exercise 11-8A Effect of issuing common stock on the balance sheet LO 11-4 Newly formed SJ Iron Corporation has 110.000 shares of $6 par common stock authortzed on March 1 Year 1, 58 tron saved 8.500 shares of the stock for $12 per Share On May 2, the company issued an additional 23,000 shares for $20 per share. S&.) tron was not affected by other events during Year 1 Required a. Record the transactions in a hortzontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), Investing activity (1A), 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.) b. Determine the amount 58. 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 Read to b. Determine the amount 58) 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 contnbuted by the ownera? e. What amount of total assets would stron report on the December 31, Year 1, balance sheet? Show Common stock cPaid in capital in excess of par Total paid in capital Total assets