Problem: Module 3 Textbook Problem 12 Learning Objectives: - 3-10 Identify the characteristics of capital stock - 3-12 Show how issuing different classes of stock affects financial statements Newly formed 5& J Iron Corporation has 91,000 shares of $3 par common stock authorized. On March 1, Year 1, S\&J Iron issued 11,500 shares of the stock for $11 per share. On May 2, the company issued an additional 18.000 shares for $22 per share. $S J lron was not affected by other events during Year 1 . Required a. Recoid the transactions in a horizontal statements modet. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (A), or financing activity (FA) if an element was not affected by the event, leave the cell blank. b. Determine the amount S\&J lion would report for common stock on the December 31, Year 1, balance sheot. c. Determine the amount S\&J Iton would report for poid-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 SE. Iron report on the December 31. Year 1, balance sheet? Complete this question by entering your answers in the tabs below. 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? Complete this question by entering your answers in the tabs below. Record the transactions in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), inves activity ( FF ). If an element was not affected by the event, leave the cell blank, Determine the amount S\&J Iton would report for paid-in capital in excess of par. 1. What is the total amount of capital contributed by the owners? . What amount of total assets would S\&J Iron report on the December 31, Year 1, baiance sheet? Complete this question by entering your answers in the tabs below. b. Determine the amount 583 Iron would report for common stock on the December 31 , Year 1 , balance sheet. c. Determine the amount S83 Iron would report for paid-In capital in excess of par. d. What is the total amount of capital controuted by the owners? e. What amount of total assets would SsJ tron report on the December 31, Year 1, bolance sheet