9) Company A issues 8 million of its common shares, $0.5 par value per share, and 5 million of its preferred shares, $0.1 par value per share, for 37 million. The market price of common shares at the time of issuance is $4 per share. There is no established market for the preferred shares. How much increase in paid-in capital-excess of par, common and paid-in capital-excess of par, preferred would result from this issuance, respectively?

a. $4 million and $0.5 million

b. $28 million and $4.5 million

c. $32 million and $5 million

d. 1.5 million and $5 million

15) On September 1, 2022, Company A issued $90 million of 5% convertible bonds with premium. The bonds are due 2028. The bonds are convertible at the option of the bond holder into no par common stock. 80% of the convertible bonds issued by Company A are converted at the same time when the remaining unamortized premium is $3 million. The entry to record the conversion a:

a. debit to premium on convertible bonds patable for $3,000,000

b. credit to convertible bonds payable for $72,000,000

c. credit to common stock for $74,400,000

d.cedit to cash for $74,400,000