Newly formed S&J Iron Corporation has 98,000 shares of $5 par common stock authorized. On March...

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Newly formed S&J Iron Corporation has 98,000 shares of $5 par common stock authorized. On March 1, Year 1, S&J Iron Issued 10,500 shares of the stock for $10 per share. On May 2, the company issued an additional 21,500 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. 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 Record the transactions in a horizontal statements model. Note: In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Not all cells require input. S&J IRON CORPORATION Balance Sheet Assets Event Liabilities Cash March 1 May 2 + = + Horizontal Statements Model Income Statement Stockholders' Equity Statement of Cash Flows Common + Stock Paid In Capital in Excess Revenue Expense Net Income Newly formed S&J Iron Corporation has 98,000 shares of $5 par common stock authorized. On March 1, Year 1, S&J Iron Issued 10,500 shares of the stock for $10 per share. On May 2, the company issued an additional 21,500 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. 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 Record the transactions in a horizontal statements model. Note: In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). Not all cells require input. S&J IRON CORPORATION Balance Sheet Assets Event Liabilities Cash March 1 May 2 + = + Horizontal Statements Model Income Statement Stockholders' Equity Statement of Cash Flows Common + Stock Paid In Capital in Excess Revenue Expense Net Income