Which of the following is incorrect for Smith Company when Smith issues 12,300 shares of $20 par value common stock and pays $22,300 cash in exchange for a building? The market price of the Smith stock on the exchange date was $25 per share and the buildings book value on the books of the seller was $223,000.

Stockholders' equity increases $307,500. The building account increases by $329,800 O The additional paid-in capital account increases by $246,000. The common stock account increases by $246,000