Assume that the following data relative to Kane Company for 2019 is available: Net Income $2,100,000 Transactions in Common Shares Jan. 1, 2019, Beginning number Mar. 1, 2019, Purchase of treasury shares June 1, 2019, Stock split 2-1 Nov. 1, 2019, Issuance of shares Change (60,000) 640,000 240,000 Cumulative 700,000 640,000 1,280,000 1,520,000 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 200,000 shares of common (adjusted for split). $1,000,000 Stock Options Exercisable at the option price of $25 per share. Average

Assume that the following data relative to Kane Company for 2019 is available: Net Income $2,100,000 Transactions in Common Shares Jan. 1, 2019, Beginning number Mar. 1, 2019, Purchase of treasury shares June 1, 2019, Stock split 2-1 Nov. 1, 2019, Issuance of shares Change (60,000) 640,000 240,000 Cumulative 700,000 640,000 1,280,000 1,520,000 6% Cumulative Convertible Preferred Stock Sold at par, convertible into 200,000 shares of common (adjusted for split). $1,000,000 Stock Options Exercisable at the option price of $25 per share. Average

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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