Prior to 23 October 2027, the share capital account of Fallout Ltd had a balance of $50,000. This reflected their issued share capital, which consisted of 50,000 ordinary shares, issued at $1.00 and paid in full. On 23 October 2027, the directors announced a 1-for-5 non renounceable rights issue, with shares to issued under the scheme for $2.40 each, payable in full upon accepting the offer. Lone Wanderer Ltd agreed to underwrite half of the offer, in exchange for a fee of $1,000. If the holders of 15,500 ordinary shares exercise their rights, what will the balance of the share capital account be once the rights issue is complete? (Note: to be clear, we are looking for the dollar balance, NOT the number of outstanding shares)

		71000
		73000
		69000
		61000

On 3 August 2023, Sunny Smiles Ltd had a balance of $23,500 in their options account. This reflected 50,000 fully paid options which were on issue. Each option, if exercised, entitled the holder to purchase one ordinary share for $3, payable in full upon exercise of the option. When the options expired on 1 September 2023, 75% had been exercised. Options which were not exercised duly lapsed. After all transactions relating to the exercise of the options had been completed, what would the balance in Sunny Smiles Ltd's lapsed options reserve be?

		12500
		5875
		6250
		17625