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Exercise 11-8A Effect of issuing common stock on the balance sheet LO 11-4 Newly formed S&J Iron Corporation has 150,000 shares of $6 par common stock authorized. On March 1, Year 1, S&J Iron issued 11,500 shares of the stock for $9 per share. On May 2, the company issued an additional 15,000 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. (In the Statement of Cash Flows column. indicate whether the item is an operating activity (0A), investing activity (IA), or nancing activity (FA). Not all cells in the \"Statement of Cash Flows" column may require an input - leave cells blank if there is no corresponding input needed.) 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. cl. 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. Req A Record the transactions in a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating activity (0A), investing activity (1A) nancing activity (FA). Not all cells in the "Statement of Cash Flows" column may require an input - leave cells blank if there is no corresponding input needed.) Mare\" _H_II_-_I_H__- -H-I-I-_I-H--- Req BtOE b. Determine the amount 58:] Iron would report for common stock on the December 31, Year 1, balance sheet. c. Determine the amount 58:] 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 580 Iron report on the December 31, Year 1, balance sheet? Show IessL _ a Paid-in capital in excess of par _ a Total paid-in capital - a Total assets