issue of shares.

During the year, the company issued bonus shares on the basis of 1 for 4 shares already held by capitalising part of its general reserve. Later in the year, the company made a new issue of shares at full market price At the year end, there were balances on the share capital account and share premium account of $960,000 and $400,000 What price were the new shares issued for and how much share premium was received on each new share? $1.575 issue price, 57.5 cents premium per share 39.375 cents issue price, 14.375 cents premium per share 39.375 cents issue price, 57.5 cents premium per share $1.575 issue price, 14.375 cents premium per share