Gordonson, Inc. issues stock to raise capital for a large project. 400,000 shares of $1.00 par value stock are issued. The stock issues for $70 per share. The effect on the accounting equation from issuing this stock is: a) Assets go up. Common stock goes up by $400,000. Additional paid in capital goes up by $27,600,000. b) Assets go up. Common stock goes down by $400,000. Additional paid in capital goes down by 27,600,000. c) Assets go up. Common stock goes up by $28,000,000. Additional paid in capital goes up by $400,000. d) Assets go down. Common stock goes down by $400,000. Additional paid in capital goes down by $27,600,000. e) None of these answers are correct