The partial trial balance for Darryl Inc. as at December 31, 20x8 is as follows: 2018 Convertible bonds, 4% Contributed Surplus - Convertible bonds 7 $275,000 20x7 $10,275,906 400,000 The convertible bonds were issued on December 31, 20x0 and mature on December 31, 20x15. They are convertible at the option of the holder. The face value of the bonds is $10,000,000. On July 1, 20x8 some of the bonds were converted into common shares. Interest is paid each June 30 and Dec 31. Required - b) Calculate the balance in the Convertible Bonds account as December 31, 20x8. What is the interest expense for the year ended Dec 31, 20x8 on the convertible bonds? What is the cash paid out for interest on the convertible bonds? Use the interest expense in part b) as the starting point in your calculations