Please show all work. Thanks in advance!
May 31, 2020
Date | Shares outstanding | Restatement | Fraction | Weighted shares |
Jun 1 - Sep 30 | 957000 | 1.2 | 4/12 | 382800 |
Oct 1 - Dec 31 | 1462000 | 1.2 | 3/12 | 438600 |
Jan 1 - May 31 | 1754400 | 1 | 5/12 | 731000 |
Total | 1552400 |
May 31, 2021
Date | Shares outstanding | Restatement | Fraction | Weighted shares |
Jun 1 - Nov 30 | 1754400 | 1 | 6/12 | 877200 |
Dec 1 - May 31 | 2578400 | 1 | 6/12 | 1289200 |
Total | 2166400 |
Please show all work. Thanks in advance! Problem 16-06 (Part Level Submission) Marin Corporation is preparing...
Problem 16-06 (Part Level Submission) Marin Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2020, and May 31, 2021. The income from operations for the fiscal year ended May 31, 2020, was $1,741,000 and income from continuing operations for the fiscal year ended May 31, 2021, was $2,605,000. In both years, the company incurred a 10% interest expense on $2,439,000 of debt, an obligation that requires interest-only payments...
Whispering Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2020, and May 31, 2021. The income from operations for the fiscal year ended May 31, 2020, was $1,741,000 and income from continuing operations for the fiscal year ended May 31, 2021, was $2,605,000. In both years, the company incurred a 10% interest expense on $2,439,000 of debt, an obligation that requires interest-only payments for 5 years. The company...
please show work Problem 16-06 (Part Level Submission) Ivanhoe Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2020, and May 31, 2021. The income from operations for the fiscal year ended May 31, 2020, was $1,878,000 and income from continuing operations for the fiscal year ended May 31, 2021, was $2,526,000. In both years, the company incurred a 11% interest expense on $2,426,000 of debt, an obligation that...
Problem 16-06 Pronghorn Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2020, and May 31, 2021. The income from operations for the fiscal year ended May 31, 2020, was $1,819,000 and income from continuing operations for the fiscal year ended May 31, 2009 an income from continuing operations to distupca 2021, was $2,469,000. In both years, the company incurred a 10% interest expense on $2,394,000 of debt, an...
Sheffield Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2020, and May 31, 2021. The income from operations for the fiscal year ended May 31, 2020, was $1,746,000 and income from continuing operations for the fiscal year ended May 31, 2021, was $2,459,000. In both years, the company incurred a 10% interest expense on $2,370,000 of debt, an obligation that requires interest-only payments for 5 years. The company...
Problem 16-09 a-b Ivanhoe Corporation is preparing the comparative financial statements to be included in the annual report to stockholders. Ivanhoe employs a fiscal year ending May 31. Income from operations before income taxes for Ivanhoe was $1,319,000 and $621,000, respectively, for fiscal years ended May 31, 2021 and 2020. Ivanhoe experienced a loss from discontinued operations of $416,000 on March 3, 2021. A 20% combined income tax rate pertains to any and all of Ivanhoe Corporation’s profits, gains, and...
Problem 16-09 a-b Shamrock Corporation is preparing the comparative financial statements to be included in the annual report to stockholders. Shamrock employs a fiscal year ending May 31. Income from operations before income taxes for Shamrock was $1,277,000 and $724,000, respectively, for fiscal years ended May 31, 2021 and 2020. Shamrock experienced a loss from discontinued operations of $421,000 on March 3, 2021. A 20% combined income tax rate pertains to any and all of Shamrock Corporation’s profits, gains, and...
Coronado Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2020, and May 31, 2021. The income from operations for the fiscal year ended May 31, 2020, was $1,877,000 and income from continuing operations for the fiscal year ended May 31, 2021, was $2,464,000. In both years, the company incurred a 10% interest expense on $2,313,000 of debt, an obligation that requires interest-only payments for 5 years. The company...
Vaughn Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2020, and May 31, 2021. The income from operations for the fiscal year ended May 31, 2020, was $1,819,000 and income from continuing operations for the fiscal year ended May 31, 2021, was $2,469,000. In both years, the company incurred a 10% interest expense on $2,394,000 of debt, an obligation that requires interest-only payments for 5 years. The company...
Sarasota Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2020, and May 31, 2021. The income from operations for the fiscal year ended May 31, 2020, was $1,791,000 and income from continuing operations for the fiscal year ended May 31, 2021, was $2,378,000. In both years, the company incurred a 10% interest expense on $2,345,000 of debt, an obligation that requires interest-only payments for 5 years. The company...