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Unformatted text preview: $200,000 b. Common Stock $10 par, 250,000 shares issued and outstanding for The entire year. $2,500,000. c. Stock Warrants outstanding to buy 20,000 shares of Common Stock At $21 per share. 3) Other Information: a. bonds converted during the year 0 b. Income Tax rate 32% c. Convertible debt was outstanding for the entire year d. Average market price per share of common stock $24 e. Warrants were outstanding the entire year f. Warrants exercised during the year. 0 Instructions Compute basic and diluted earnings per share. Treasury stock. Gagne Company's balance sheet shows: Common stock, $20 par $3,000,000 Paid-in capital in excess of par 1,050,000 Retained earnings 750,000 Instructions Record the following transactions by the cost method. (a) Bought 5,000 shares of its common stock at $29 a share. (b) Sold 2,500 treasury shares at $30 a share. (c) Sold 1,000 shares of treasury stock at $26 a share....
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