Extracted text: Assume that partners A, B and C agreed to be issued 14,000, 21,000 and 35,000 shares, respectively. How much is the credit to the share premium account? On January 1, 20xd, the partners in ABC Co. decided to admit other investors and convert the partnershup into a corporation. Relevant information follows: Carying amounts 50,000 Fair vahues Cash S0,000 Receivables 240,000 160,000 280,000 320,000 2,160,000 Inventory Equipment Pavables A Capital (20%) B, Capital (30%) C Capital (50%) 2,680,000 200,000 N/A N/A 200,000 600,000 S00,000 1,200,000 N/A The corporation has an authorized capitalization of PS.000,000 divided into 200,000 ordinary shares with par vahue of Pi40 per share.