6a)

On January 1, 2018, Albacore Company had 300,000 shares of its common stock issued and outstanding. On October 1, 2018, Albacore repurchased 12,000 of its common shares as treasury shares. When calculating basic earnings per share (EPS) for 2018, what is the appropriate number of shares for Albacore to use in the denominator of EPS?

Choose the right answer below?

1. 216,000
2. 288,000
3. 297,000
4. 312,000

6b)

Which of the following would be a cash flow from operating activities?

Choose the right answer below?

1. Sale of a patent
2. Collection of an accounts receivable
3. Purchase of a piece of equipment
4. Cash payment for repurchasing the companys stock