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Heroes and Villains Corporation is authorized to issue 50,000 ordinary shares at Php 75 per share

Accounting

Heroes and Villains Corporation is authorized to issue 50,000 ordinary shares at Php 75 per share. On April 8, the corporation received subscriptions from Sandra Diaz-Twine for 800 shares at Php 95 per share. Sandra paid 60% of the total subscription but was unable to pay the balance. The unpaid portion was declared delinquent and was placed in a public auction. For this, the Corporation incurred a total of Php 12,500 for advertising the sale of the delinquent sale. Subsequently, the Corporation received bids from the following bidders: Rob Mariano - 600 shares, Parvati Shallow - 540, Ethan Zohn - 500, and Danni Boatwright - 680 shares. However, Ethan Zohn is not willing to pay for the expenses incurred by the Corporation for the sale of delinquent shares. Required: (1) How much should the highest bidder pay? = (2) How many shares will Sandra receive? 

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