48: On January 3rd 2021, ABC Inc issued 10 year bonds with detachable warrants at 105. During 2022, the warrants were converted into common stock selling for $50. At conversion, the market price of ABC Inc.'s warrants was $10. On January 3, 2021, cash proceeds from the issuance of the bonds with detachable stock warrants should be reported as: a) contributed surplus for the entire proceeds b) a liability for the entire proceeds c) a liability for the face amount of the bonds and contributed surplus for the premium over the face amount d) a liability for the present value of cash interest and face value bonds discounted at the effective rate, and contributed surplus for the portion of the proceeds attributable to the warrants for the balance e) a gain earned from the sale of bonds