In 2017, Eldund, Inc., issued for $103 per share, 90,000 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 2018, 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. What total amount should be credited to additional pald-in capital from common stock as a result of the conversion of the preferred stock into common stock? $2,520,000 O $1,170,000 O None of the answers are correct. O $1,530,000 O $2,250,000. Question 13 6 pts Stine Inc. had 1,000,000 shares of common stock issued and outstanding at December 31, 2017. On July 1, 2018 an additional 1,000,000 shares were issued for qush. Stine also had stock options outstanding at the beginning and end of 2018 which allow the holders to purchase 300,000 shares of common stock at $28 per share. The average market price of Stine's common stock was $35 during 2018. The number of shares to be used in computing diluted earnings per share for 2018 is None of the answers are correct. Question 14 6 pts With respect to the computation of earnings per share, which of the following would be most indicative of a simple capital structure? Earnings derived from one primary line of business None of the answers are correct. Common stock, preferred stock, and convertible securities outstanding in lots of even thousands O Ownership interest consisting solely of common stock Ownership interest consisting of both common stock and convertible preferred stock Question 15 6 pts Palmer Co. had a deferred tax liability balance due to a temporary difference at the beginning of 2017 related to $1,500,000 of excess depreciation. In December of 2017, a new income tax act is signed into law that lowers the corporate rate from 40% to 35%, effective January 1, 2019. If taxable amounts related to the temporary difference are scheduled to be reversed by $750,000 for both 2018 and 2019, Palmer should increase or decrease deferred tax liability by what amount? Decrease by $75,000 Increase by $37,500 Decrease by $37,500