On January 2, 2016, Torres Corporation issued 14,000 shares of $10 par-value common stock for $14 per share. Which of the following statements is true?

a. The Paid-in Capital in Excess of Par Value account will increase by $56,000.

b. The Cash account will increase by $140,000.

c. Total equity will increase by $140,000.

d. The Common Stock account will increase by $196,000.