with solutions please

ABC Corporation is authorized to issue 150,000 ordinary shares at P10 par value and 250,000 preference shares at P25 par value. During its first year of operation, the following share capital transactions have been summarized: Preference Share Capital - P 437,500; Ordinary Share Capital - P 250,000; Share Premium - Preference - P 201,250; Share Premium - Ordinary - P175,000.00 The average selling price for the preference shares is closest to O P25.00 P36.50 P14.60 P17.00