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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 177,000 shares of $5 per common stock authorized. On March 1, Year 1, S\&J lron issued 8,500 shares of the stock for $12 per shate. On May 2, the company issued an additional 24,500 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 (A), or financing activity (FA). If an element was not affected by the event, leave the cell blank. b. Determine the omount 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 , Yoar 1 , balance sheet? Complete this question by entering your answers in the tabs below. 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), inve activity (FA). If an element was not affected by the event, leave the cell blank. Complete this question by entering your answers in the tabs below. b. Determine the amount \( \$ \& \)amp; Iron would report for common stock on the December 31 , Year 1, balance sheet. c. Determine the amount $8J 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