The stockholders’ equity section of Mountvale’s Associates is provided below. 1997 1996 Common stock ($1 par value) $128,000 $100,000 Additional paid-in capital (C/S) 95,000 12,000 Retained earnings 41,000 35,000 Total stockholders’ equity $264,000 $147,000 ADDITIONAL INFORMATION: 1. 1/1/97: A 20 percent stock dividend was issued. The fair market value of the stock at the time was $3.00 per share. 2. 8/25/97: Land was purchased in exchange for 6,000 shares of common stock. The fair market value of the stock was $3.00 per share. 3. 12/31/97: Common stock was issued for cash. REQUIRED: How many shares of common stock did Mountvale issue on December 31, 1997, and how much cash did the issuance generate? Show all calculations clearly. (Hint: Calculate the num¬ ber of shares of common stock issued for cash.)