Newly formed S&J Iron Corporation

Newly formed S&J Iron Corporation has 114,000 shares of $4 par 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 17,500 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 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. Req A Req B to E Record the transactions in a horizonbl 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 (FA). Not all cells require input. SU IRON CORPORATION Horizontal Statements Model Balance Sheet Stockholders' Equity Income Statement Event March 1 May 2 Req A Assets Cash Req B to E Liabilities Paid In Revenue Expense Net Income Statement of Cash Flows Common + Capital in Stock Excess 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? Show less A b. Common stock c. Paid-in capital in excess of par d. Total paid-in capital e. Total assets