5 1 points Save Answer Fogel Co. has $6,000,000 of 8% convertible bonds outstanding. Each $1,000 bond is convertible into 30 shares of $30 par value common stock. The bonds pay interest on January 31 and July 31. On July 31, 2014, the holders owning a total of 1,290 bonds exercised the conversion privilege. On that date the market price of the bonds was 105 and the market price of the common stock was $36. The total unamortized bond premium at the date of conversion was $420,000. When the conversion is recorded, will total labilities increase or decrease and by what amount? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BIUS Paragraph Arial v 10pt 20 I. P 0 WORDS POWERED BY TINY