The 12/31/2016 balance sheet of Despot Inc. included the following:

Common stock, 25 million shares at $20 par	$500 million
Paid-in capitalexcess of par	3,000 million
Retained earnings	980 million

In January 2016, Despot recorded a transaction with this journal entry:

Cash	150 million
Common stock		100 million
Paid-in capitalexcess of par		50 million

The transaction was for the:

Issue of 2 million shares of common stock at par value.

Issue of common stock for $150 million in cash.

Receipt of $20 per share for a new stock issue.

All of these answer choices are correct.