On January 1, 2021, Gilles Co. issued P10,000,000, 10%, five-year, face value bonds and 10,000 share warrants for P10,500,000. The effective rate on the bonds on this date is 14%. Each warrant allows the holder to purchase 10 of Gilles' P5 ordinary shares at P12 per share. The warrants may be exercised anytime at the discretion of the holder, but expires on December 31, 2022. The bonds pay interest every December 31. On August 1, 2021, 2,500 warrants were exercised. On July 1, 2022, 6,500 warrants were exercised. 1. How much is the amount allocated to the warrants? 2. How much cash was received on August 1, 2021, upon the exercise of the warrants? 3. How much is the balance of Share Premium - Share Warrants Outstanding account as of December 31, 2021? 4. By how much did share premium increase on July 1, 2022