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?

Multiple Choice

Increase assets and increase stockholders equity by $800,000

Increase assets and increase stockholders equity by $340,000

Increase cash inflows from investing activities by $340,000

None of these answer choices are correct.