Smithfield Corporation has issued 9,000 shares of common stock and 600 shares of preferred stock for a lump sum of $250,000 cash. The par value of the common stock was $15 and the market value was $50. The par value of the preferred stock was $8 and the market value was $70. The amount of cash received was Multiple Choice $228,650 $21,350 $196,000 O $250,000