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Problem - Alternative financing plans
Baker Co. is considering the following alternative financing plans:
Plan 1
Plan 2
Issue 5% bonds (at face value)
$3,000,000
$5,000,000
Issue preferred $4 stock, $25 par
-
2,500,000
Issue common stock, $40 par
3,000,000
2,000,000
Income tax is estimated at 40% of income.
Required - Determine the earnings per share of common stock, assuming income before bond interest and income tax is $1,000,000.
Question - Journalize the April transactions. Apr. 1 Stockholders invested $49,000 cash in the business in exchange for common stock
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