Trelawny Ltd. issued 13,000 common shares upon conversion of 10,000

Trelawny Ltd. issued 13,000 common shares upon conversion of 10,000 preferred shares. The preferred shares were originally issued at $9 per share and the Contributed Surplus-Conversion Rights account for the preferred shares had a balance of $9,000. The common shares were trading at $14 per share at the time of conversion. Record the conversion of the preferred shares.