Chapter 2 - Shareholders' Equity 2-15. The Red Carpet Company wants to raise its working capital After analysis of available alternatives, the company decides to issue 1,500 shares of P30 par preference share capital with detachable warrants. The package of the preference shares and warrants sells for P98. The warrants enable the holder to purchase 750 shares of P10 par ordinary shares at P40 per share. Immediately following the issuance of shares, the share warrants are selling at P10 each. Each preference share without the warrant sells for P90. REQUIRED Amount assigned to the preference share and share warrants issued. Entry to record the exercise of the warrants, assuming that only 80% of the warrants were exercised. (b)