Use computer software packages, such as Minitab or Excel, to solve this problem. The owner of Showtime Movie Theaters, Inc., used multiple regression analysis to predict gross revenue () as a function of television advertising () and newspaper advertising (). Values of , , and are expressed in thousands of dollars. Weekly Gross Revenue ($1000s) Televison Advertising ($1000s) Newspaper Advertising ($1000s) 96 5 1.5 90 2 2 95 4 1.5 92 2.5 2.5 95 3 3.3 94 3.5 2.3 94 2.5 4.2 94 3 2.5 The estimated regression equation was

On january 1, 2018, gless textiles issued $12 million of 9%, 10-year convertible bonds at 101. the bonds pay interest on june 30 and december 31. each $1,000 bond is convertible into 40 shares of gless’s no par common stock. bonds that are similar in all respects, except that they are nonconvertible, currently are selling at 99 (that is, 99% of face amount). century services purchased 10% of the issue as an investment. on january 1, 2018, gless textiles issued $12 million of 9%, 10-year convertible bonds at 101. the bonds pay interest on june 30 and december 31. each $1,000 bond is convertible into 40 shares of gless’s no par common stock. bonds that are similar in all respects, except that they are nonconvertible, currently are selling at 99 (that is, 99% of face amount). century services purchased 10% of the issue as an investment. 3. on july 1, 2023, when gless’s common stock had a market price of $33 per share, century converted the bonds it held. prepare the journal entries by both gless and century for the conversion of the bonds (book value method).