37 ABC Corporation is experiencing financial difficulties and a downward trend in its results of operations. The firm is unable to service its debt and as a result, has missed payment of an annual interest on its loan from DEF Company. The principal amount of the loan is P 5,000,000 (which is already due ) with annual interest of 10% payable annually. ABC Corporation's management has negotiated a modification of its debt terms with its creditors. The creditors agree to the following new terms (assume that at this time, the prevailing market rate of interest remained at 11%): Forgive all accrued interest. Reduce the principal amount of the loan to P 4,000,000. Extend the payment of principal for 3 years. Reduce the interest rate for the remaining 3 years to 8% . How much is the gain on debt restructuring?* 00 (1 Point) P 1,698,498.16 P 1,793,245.77 P 1,968,498.61 P 1,698,948.16 38 Which of the following are included in the total contributed capital of a corporation? 1. Share capital accounts II. Additional paid in capital accounts III. Retained Earnings IV. Share dividends distributable* (1 Point) OLI,II and IV O Lill and IV I and II O l,ll and