Which of the following is correct for Smith Company when Smith issues 10,000 shares of $10 par value common stock and pays $29,000 cash in exchange for a building? The market price of the Smith stock on the exchange date was $27 per share and the building's book value on the books of the seller was $290,000.

a) SE increases $290,000

b) SE increases $241,000

c) Total assets increase $270,000

d) Total assets increase $241,000