Demis Corporation is authorized to issue P10 par ordinary share capital. Assume the following transactions were completed by Demis Corporation with Mr. Valdez, a subscriber.

• Received subscription from Mr. Valdez for 15,000 shares at P15 per share. Terms: 30% down and the balance is payable at the end of 60 days.
• After several calls, Mr. Valdez failed to pay the balance of his subscription. Thirty days after the due date, the shares were declared delinquent and were advertised for sale at a public auction.
• Expenses for advertising the sale amounted to P4,500, which were duly paid by the corporation.
• Received bids from the following:
  • Robert 12,000 shares
  • Marilou 9,000 shares
  • Anna 10,500 shares
• The amount due from the highest bidder is collected, and certificates of share capital were accordingly issued.

Upon issuance of the stock certificates, how many shares are received by Ms. Marilou and Mr. Valdez respectively?

Choose the correct answer:

a. All 15,000 shares to Marilou

b. All 15,000 shares to Valdez

c. 10,500 shares to Marilou and 4,500 shares to Valdez

d. 9,000 shares to Marilou and 6,000 shares to Valdez

e. 6,000 shares to Marilou and 9,000 shares to Valdez