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On November 2, Year 1, Finsbury, Inc. issued warrants to its stockholders giving them the right to purchase additional $20 par value common shares at a price of $30. The stockholders exercised all warrants on March 1, Year 2. The shares had market prices of $33, $35, and $40 on November 2, Year 1, December 31, Year 1, and March 1, Year 2, respectively. What were the effects of the warrants on Finsbury's additional paid-in capital and net income?
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