Halverstein Company's outstanding stock consists of 8,400 shares of cumulative 5% preferred stock with a $10 par value and 3,600 shares of common stock with a $1 par value. During the first three years of operation, the corporation declared and paid the following total cash dividends. Dividends Declared & Paid $ 0 $ 7,200 $33,000 Year 1 Year 2 Year 3 The amount of dividends paid to preferred and common shareholders in Year 2 is: A corporation issued 6,300 shares of $10 par value common stock in exchange for some land with a market value of $96,000. The entry to record this exchange is: Multiple Choice Debit Land $96,000; credit Common Stock $63,000; credit Paid-In Capital in Excess of Par Value, Common Stock $33,000. Debit Common Stock $96,000; credit Land $96,000. o Debit Land $96,000; credit Common Stock $96,000. o o Debit Common Stock $63,000; debit Paid-In Capital in Excess of Par Value, Common Stock $33,000; credit Land $96,000. Debit Land $63,000; credit Common Stock $63,000