Saved Help Save & Exit Submi Exercise 8-6A (Algo) Effect of issuing common stock on the balance sheet LO 8-2, 8-4 Newly formed S&J Iron Corporation has 132,000 shares of $5 par common stock authorized on March 1. Year 1. S&J Iron issued 10,000 shares of the stock for $10 per share On May 2, the company issued an additional 21,500 shares for $20 per share. S&J iro 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) If an element was not affected by the event, leave the cell blank. b. Determine the amount Se 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