Alpha Company issued 4,700 shares of $10 par value common stock to stockholders, in exchange for $70,500 cash. Which of the following correctly describes the impact of this transaction on Alpha's financial statements? Additional paid-in capital of $23,500 is reported in stockholders' equity. Common stock is reported at $70,500 as a liability. A $70,500 investment is reported as a long-term investment. O Stockholders have invested $117,500 as stockholders' equity