Sylvan Heights Company issues 112,000 shares of preferred stock for $40 per share. The stock has a fixed dividend rate of 7% and a par value of $11 per share the company records the issuance with a debit to Cash for Multiple Choice 54.480,000 and a credit to Preferred Stock for $4 480,000. $1232.000 and a credit to Preferred Stock for $1.232,000 $4,400.000, a credit to Preferred Stock for $1.232.000, and a credit to Additional Paid-in Capital for 3.248.000 31232000, a debit for $3,248,000 to Long-term Investments a credit to Preferred Stock for $1232000 and o credit to Additional Paid-in Capital for $3.248.000