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Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $512,000. Primus has 50,000 shares of common stock outstanding. Sonston reports net income of $112,000 for the period with 40,000 shares of common stock outstanding. Sonston also has 5,000 stock warrants outstanding that allow the holder to acquire shares at $11.00 per share. The value of this stock was $22 per share throughout the year. Primus owns...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $624,000. Primus has 50,000 shares of common stock outstanding. Sonston reports net income of $224,000 for the E period with 50,000 shares of common stock outstanding. Sonston also has 10,000 stock warrants outstanding that allow the holder to E acquire shares at $7.50 per share. The value of this stock was $15 per share throughout the year....
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $560,000. Primus has 100,000 shares of common stock outstanding. Sonston reports net income of $160,000 for the period with 40,000 shares of common stock outstanding. Sonston also has 10,000 stock warrants outstanding that allow the holder to acquire shares at $12.00 per share. The value of this stock was $24 per share throughout the year. Primus owns...
Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $480,000. Primus has 50,000 shares of common stock outstanding. Sonston reports net income of $80,000 for the period with 40,000 shares of common stock outstanding. Sonston also has 5,000 stock warrants outstanding that allow the holder to acquire shares at $13.50 per share. The value of this stock was $27 per share throughout the year. Primus owns...
Porter Corporation owns all 26,000 shares of the common stock of Street, Inc. Porter has 60,000 shares of its own common stock outstanding. During the current year, Porter earns net income (without any consideration of its investment in Street) of $211,000 while Street reports $161,000. Annual amortization of $18,000 is recognized each year on the consolidation worksheet based on acquisition date fair-value allocations. Both companies have convertible bonds outstanding. During the current year, bond-related interest expense (net of taxes) is...
Porter Corporation owns all 30,000 shares of the common stock of Street, Inc. Porter has 70,000 shares of its own common stock outstanding. During the current year, Porter earns net income (without any consideration of its investment in Street) of $227,000 while Street reports $159,000. Annual amortization of $15,000 is recognized each year on the consolidation worksheet based on acquisition- E date fair-value allocations. Both companies have convertible bonds outstanding. During the current year, bond-related interest expense (net of taxes)...
please answer Porter Corporation owns all 34,000 shares of the common stock of Street, Inc. Porter has 73,000 shares of its own common stock outstanding. During the current year, Porter earns net income (without any consideration of its investment in Street) of $251,000 while Street reports $206,000. Annual amortization of $19,000 is recognized each year on the consolidation worksheet based on acquisition-date fair-value allocations. Both companies have convertible bonds outstanding During the current year, bond-related interest expense (net of taxes)...
Porter Corporation owns all 35,000 shares of the common stock of Street, Inc. Porter has 70,000 shares of its own common stock outstanding. During the current year, Porter earns net income (without any consideration of its investment in Street) of $259,000 while Street reports $234,000. Annual amortization of $10,000 is recognized each year on the consolidation worksheet based on acquisition-date fair-value allocations. Both companies have convertible bonds outstanding. During the current year, bond-related interest expense (net of taxes) is $56,000...
Porter Corporation owns all 30,000 shares of the common stock of Street, Inc. Porter has 65,000 shares of its own common stock outstanding. During the current year, Porter earns net income (without any consideration of its investment in Street) of $183,000 while Street reports $143,000. Annual amortization of $14,000 is recognized each year on the consolidation worksheet based on acquisition-date fair-value allocations. Both companies have convertible bonds outstanding. During the current year, bond-related interest expense (net of taxes) is $35,000...
Porter Corporation owns all 24,000 shares of the common stock of Street, Inc. Porter has 66,000 shares of its own common stock outstanding. During the current year, Porter earns net income (without any consideration of its investment in Street) of $222,000 while Street reports $121,000. Annual amortization of $13,000 is recognized each year on the consolidation worksheet based on acquisition-date fair-value allocations. Both companies have convertible bonds outstanding. During the current year, bond-related interest expense (net of taxes) is $30,000...