Newly formed S&J Iron Corporation has 60,000 shares of $4 par common stock authorized. On March 1, Year 1, S&J Iron issued 10,000 shares of the stock for $11 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. 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 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. Complete this question by entering your answers in the tabs below. Req A Req B to E ReqF Prepare journal entries to record the March 1 and May 2 transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 > Record the issuance of 10,000 shares of common stock for $11 per share. Note: Enter debits before credits. Date General Journal Debit Credit March 01 Record entry Clear entry View general journal