Ogilvie Corporation Issued 17,000 Shares of No-Par Stock for $20

Multiple Choice

Ogilvie Corporation issued 17,000 shares of no-par stock for $20 per share. Ogilvie was authorized to issue 40,000 shares. What effect will this event have on the company's financial statements?

A) Increase assets by $800,000, increase stockholders' equity by $800,000.
B) Increase assets by $340,000, increase stockholders' equity by $340,000.
C) Increase cash flow from investing activities by $340,000.
D) None of these answer choices are correct.