On March 3, Spiral Corporation issues 40,000 preferred shares for $100 each and 100,000 common shares valued at 2,400,000. The preferred shares are convertible into four common shares for each preferred share. On October 1, when the preferred shares have a market value of $105 each, and the common shares $28 each, 10,000 of the preferred shares are converted into common shares a) What is the value of preferred shares issued on March 3? b) What is the value of preferred shares converted to common shares on October 12 c) How many common shares are issued after October 1 transaction? d) How many preferred shares are issued after October 1 transaction