At 1 January 2018 the share capital and share premium account of a company were as follows: Share capital 800,000 shares of 50p each 400,000 Share premium account 650,000 During the year ended 31 December 2018 the following events took place: 1 On 3 April 2018 the company made a bonus issue of one share for every two held. 2 On 1 October 2018 the company made a rights issue of one share for every three in issue at that time, at a price of 1.25 per share. What is the balance on the company's share premium account at 31 December 2018? A 550,000 B 750,000 C 950,000 D 1,150,000