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LongTerm Liabilities .t$.ln millions) 11.0% convertible bonds, callable at 101 beginning in 2022, due 2025 (net of unamortized discount of $4) [note 8] 11.8% registered bonds callable at 104 beginning in 2031, due 2035 (net of unamortized discount of $1) [note 8] shareholders' Equity 6 Equitystock warrants $196 51 Note 8: Bonds (in part) The 11.0% bonds were issued in 2008 at 97.0 to yield 10%. Interest is paid semiannually on June 30 and December 31. Each $1,000 bond is convertible into 40 shares ofthe Company's no par common stock. The 11.8% bonds were issued in 2012 at 102 to yield 10%. Interest is paid semiannually on June 30 and December 31. Each $1,000 bond was issued with 40 detachable stock warrants, each of which entitles the holder to purchase one share of the Company's no par common stock for $25. beginning 2022. On January 3. 2022, when Bradley-Link's common stock had a market price of $32 per share, Bradley-Link called the convertible bonds to force conversion. 90% were converted; the remainder were acquired at the call price. When the common stock price reached an all-time high of $37 in December of 2022, 40% of the warrants were exercised. Required: 1. Prepare thejournal entries that were recorded when each of the two bond issues was originally sold in 2008 and 2012. 2. Prepare thejournal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2022 and the retirement of the remainder. 3. Assume Bradley-Link induced conversion by offering $140 cash for each bond converted. Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2022. 4. Assume Bradley-Link induced conversion by modifying the conversion ratio to exchange 45 shares for each bond rather than the 40 shares provided in the contract. Prepare the journal entry to record (book value method) the conversion of 90% of the convertible bonds in January 2022. 5. Prepare thejournal entry to record the exercise of the warrants in December 2022