Common stock, $5 par, 200,000 shares authorized, 50,000 shares issued and outstanding What is the effect of issuing 2,000 shares of common stock in exchange for land with valued by a realtor at $36,000 if the common stock sells for $12 per share and is regularly traded?

a. The Land account increases by $24,000.

b. Retained Earnings decreases by $10,000.

c. Common Stock increases by $36,000.

d. Additional Paid-in Capital - Common increases by $24,000.