Q2

Issued 30,000 preference shares of P100 par value for P3,300,000, with 30,000 warrants to acquire 10,000 common shares with P50 par per share, at P55 exercise price.

On the date of the issuance, the warrants and the preference shares do not have a market value but only the common share has a market value of P64 per share.

Subsequently, 21,000 warrants were exercised and the remainder lapsed.

A 90,000

B 98,000

C 237,000

D 210,000