Newly formed S&J Iron Corporation has 160.000 shares of $5 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 24,500 shares for $20 per share. S&J Iron was not affected by other events during Year 1. Required o. 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? Req A Reg to Record the transactions in a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating activit financing activity (FA). Not all cells require input.) S&J IRON CORPORATION Horizontal Statements Model Balance Sheet Income Statement Assets Liabilities + Revenue Expense Net Income Statement of Cash Flows Event Stockholders' Equity Common PIC in Stock Excess Cash March 1 May 2 88.000 49,119 31.000 (23,519) 39,000 49,119 18,600 (18,600) ReqBto E > b. Common stock $ 9,400 c. Paid-in capital in excess of par d. Total paid-in capital e. Total assets