12 0.5 points Sipped Print 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 S&J Iron Corporation has 86,000 shares of $4 par common stock authorized. On March 1, Year 1, S&J Iron issued 9.000 shares of the stock for $11 per share. On May 2, the company issued an additional 22,000 shares for $19 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). If an element was not affected by the event, leave the cell blank. 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? Complete this question by entering your answers in the tabs below. Req A Req B to E Check my work Record the transactions in a horizontal statements model. In the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (LA), or final activity (FA). If an element was not affected by the event, leave the cell blank. S&J IRON CORPORATION Horizontal Statements Model Balance Sheet Income Statement Check my work 12 e. What amount of total assets would S&J Iron report on the December 31, Year 1, balance sheet? points Phan Complete this question by entering your answers in the tabs below. Reg 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 (TA), or fina activity (FA). If an element was not affected by the event, leave the cell blank. S&J IRON CORPORATION Horizontal Statements Model Income Statement Stockholders' Equity Revenue Expense Net Income Cash Flow PIC in Excess Balance Sheet Event Assets Cash Liabilities Comman Stock March 11 May 2 CRA Req B to B > 0.5 12 points Skipped HM Priv 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? Complete this question by entering your answers in the tabs below. Req A Req 0 to b. Determine the amount 58) Iron would report for common stock on the December 31, Year 1, balance sheet. c. Determine the amount 583 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 SBJ Iron report on the December 31, Year 1, balance sheet? b. Common stock Paid-in capital in excess of par d. Total paid-in capital e Total assets