Eklund, Inc issued for $100 per share, 60,000 shares of 5100 par value Convertible Preferred Stock One share of Preferred Stock can be converted into three shares of Ds 25 Common Stock of the option of the Preferred Stockholder, In August 2022, all of the Preferred Stock was converted into Common Stock The market value of the Common Stuck at the date of the converson was 30 per share Assume we use the Book Value method to record the conversion, what amount should be ceded to Additional Padin Capital from Common Stock as a result of the conversion of the theme Common Stock? a $1,600,000 b. $780,000 c. $900,000 d. $1,020,000 e. $1,500,000 3 points Save Anm in 2020, Eklund, Inc, lasued for $103 per share, 60,000 shares of $100 par value Convertible Preferred Stock One share of Preferred Stock can be converted into three shares of Eklund's $25 par value Common Stock at the option of the Preferred Stockholder In August 2022, all of the Preferred Stock was converted into Common Stock The market value of the Common Stock at the date of the conversion was $30 per share Assume we use the Book Value method to record the conversion, what amount should be credited to Additional Paid In Capital from Common Stock as a result of the conversion of the Preferred Stock into Common Stock? a $1,600,000 b. $780,000 $900,000 d. $1,020,000 e. $1,500,000