Newly formed S&J Iron Corporation has $106,000$ shares of $$6$ par common stock authorized. On March $1,$ Year $1,$ S&J Iron issued $8,000$ shares of the stock for $$11$ per share. On May $2,$ the company issued an additional $16,000$ 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 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 operatingtictivity $($OA$),$ investing activity $($IA$),$ or financing activity

$\backslash$table$[[$S&J IRON CORPORATION$],[$Horizontal Statements Model$],[$Event$,$Balance Sheet,Income Statement,$\backslash$table$[[$Statement of Cash$],[$Flows$]]],[\frac{\text{A}\text{s}\text{s}\text{e}\text{t}\text{s}}{\text{C}\text{a}\text{s}\text{h}},\backslash$table$[[=$