1. On July 1, 2019, Alpha Company purchased inventory from its Japanese supply source. Terms of sale were 100,000 yen, due 30 days from the date of purchase.On July 30, 2019, Alpha paid for the supplies purchased on July 1. The exchange rate for the yen was $0.01 on the date of purchase, and $0.0098 on the date of payment. Use this information to prepare Alpha Company's general journal entries to record the purchase and payment for inventory purchased from its Japanese vendor.

1. During all of fiscal year 2017, Alpha Corporation had outstanding 100,000 shares of $10 par common stock and 5,000 shares of noncumulative, $100 par value, 6% preferred stock.For 2017, Alpha Corporation had $230,000 net income and dividends were paid only to preferred shareholders.Use this information to determine how much Alpha Corporation should report for 2017 basic earnings (loss) per share for income (loss) from continuing operations. If it is a loss EPS then present the value in brackets.