Newly formed S\&J Iron Corporation has 122,000 shares of $5 par common stock authorized. On March 1, Year 1, S\&J Iron issued 8,000 shares of the stock for $13 per share. On May 2, the company issued an additional 15,000 shares for $19 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? f. Prepare journal entries to record the March 1 and May 2 transactions