Retro Company is authorized to issue 10,000 shares of 8%, $100 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share. If Retro issues 4,000 shares of preferred stock for land worth $500,000, which of the following would be the best journal entry for Retro to record? 500,000 O Land Preferred Stock 500,000 50,000 Land Preferred Stock 50,000 500,000 O Land Preferred Stock Paid-in Capital - Preferred 400,000 100,000 10,000 O Land Preferred Stock Paid-in Capital - Preferred 1.000 9.000