A company’s statement of financial position lists these balances: Ordinary shares of $1$ each: $100\,000$ Share premium: $10\,000$ Retained earnings: $48\,000$ Bank (debit): $50\,000$ A bonus issue of one ordinary share for every four ordinary shares held is made. The reserves are maintained in their most flexible form. What will the revised account balances be?
- AShare premium nil; retained earnings $33\,000$; bank (debit) $50\,000$
- BShare premium nil; retained earnings $33\,000$; bank (debit) $75\,000$
- CShare premium $10\,000$; retained earnings $23\,000$; bank (debit) $50\,000$
- DShare premium $10\,000$; retained earnings $23\,000$; bank (debit) $75\,000$