Tom Yuppy, a wealthy Investor, exchanged a plot of land that originally cost him $28,080 for 1,040 shares of $10 par common stock Issued to him by Leuig Corporation On the same date, Leuig Corporation Issued an additional 2,080 shares of stock to Yuppy for $27 per share. Required a. What was the value of the land at the date of the stock Issue? b. Show the effect of the two stock issues on Leuig's books in a horizontal statements model. c. Prepare the journal entries to record these transactions. Complete this question by entering your answers in the tabs below. Required A Required B Required C Show the effect of the two stock issues on Leuig's books in a horizontal statements model. (In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Leave blank to indicate that an element was not affected by the event.) Assets = LEUIG CORPORATION Horizontal Financial Statements Model Balance Sheet Liabilities + Stockholders' Equity Income Statement Event 1 - Exchange of land for shares 2- Issue of additional shares Cash + + Land Common Stock Paid-in Capital in Excess Revenue Statement of Cash Expense Net Income Flows < Required A Required C >