Newly formed S&J Iron Corporation has 67,000 shares of $4 par common stock authorized. On March 1, Year 1, S&J Iron issued 10,500 shares of the stock for $11 per share. On May 2, the company issued an additional 22,500 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. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Use NA to indicate that an element was not affected by the event. Income Statement - Expense = Net Income Assets = Balance Sheet Liabilities + Stockholders' Equity Common PIC in Stock * Excess Revenue Cash Flow Event Cash 115,000 + March 1 E May 2 + 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? b. Common stock C. Paid-in capital in excess of par d. Total paid-in capital e. Total assets 1 Record the issue of common stock. 2 Record the issue of additional common stock