Timberjack ! absolutely you can get both lung's and the heart with one shot ,If you aim at the V above the front elbow behind the shoulder you'll take out both lung's and heart. We took a bull moose this way last fall during archery season and took out both lung's and the heart. It can be done if your right on target.
I'm not sure if it's possible from a treestand,we took the moose at ground level and 5yrds away.

nubo