9. On January 1,20xx. Sunshine Corporation had 40,000 shares of $10 par value common stock issued and outstanding. All 40,000 shares had been issued in a prior period at $20.00 per share. On February 1, 20xx, Sunshine purchased 2,000 shares of treasury stock for $23 per share and later sold the treasury shares for $21 per share on March 1, 2000x. The journal entry to record the purchase of the treasury shares on February 1,20xx, would include a: a. credit to Treasury Stock for $46,000. b. debit to Treasury Stock for $46,000. c. debit to a loss account for $6,000 d. credit to a gain account for $6,000. 10. For the year that just ended, a company reports net income of $2,200,000. There are 750,000 shares authorized, 700,000 shares issued, and 600,000 shares of common stock outstanding. What is the earnings per share? a. $4.40. b. $3.14. c. $4.57. d. $3.67 11. On January 1,2020 , the Baker Corporation issued 10% bonds with a face value of $50,000. The bonds are sold for $46,000. The bonds pay interest semiannually on June 30 and December 31 and the maturity date is December 31, 2024. Baker records straight-line amortization of the bond discount. The bond interest expense for the year ended December 31,2020 , is: a. $4,000. b. $4,200. c. $5,400. d. $5,800. 12. On January 1,2020,$1,000,000,5-year, 10% bonds were issued for $960,000. Interest is paid semiannually on January 1 and July 1 . If the issuing corporation uses the straight-line method to amortize discount on bonds payable, the semiannual amortization amount is: a. $8.000. b. $6,000. c. $4,000. d. $5,000