Impact of Transactions on Financial Statement Elements Identify the specific effects (including account name, dollar amount, and financial statement impact) of the following transactions or conditions on the various financial statement components I-Increase D Decrease NE No effect Transaction Assets Liabilities ul A convertible bond is issued at a premium Amortization of a discount on a convertible bond at an interest date Conversion of a convertible bond (originally issued at par) to common stock. The carrying v alue than the par v alue of the bond is greater of the common stock Conversion of preferred stock to common stock Assume the preferred stock was issued over par value and its net carrying value is greater than the par value of the common stock