Please help me solve these with explanations. Try no to just randomly answer randoms ones and take your time. no guessing

(14.4) Stover, a corporation with a 25% tax rate, made a $20,000 error overstating its cost of goods sold as a result of its year-end inventory count. Which of the following would be included in the correcting entry?

• A :

  A debit to income tax expense for $5,000.

• B :

  A debit to retained earnings for $20,000.

• C :

  A debit to cost of goods sold for $20,000.

• D :

  A debit to inventory for $20,000.

_____________

14.6

Newco Ltd had 100,000 common shares issued on January 1^st. On April 1, the company reacquired 10,000 of its own common shares. On July 1^st, 10,000 non-convertible preferred shares were issued. On October 1^st, 20,000 common shares were issued. What will Newco use in the denominator for its earnings per share calculation?

• A :

  102,500

• B :

  97,500

• C :

  100,000

• D :

  130,000

______________________________________________________

(14,2) For federally incorporated companies, repurchased shares must be

• A :

  reissued.

• B :

  retired and cancelled.

• C :

  cancelled, but not retired.

• D :

  retired, but not cancelled.

__________

14.3 On its statement of comprehensive income, Seeds reported a loss of $8,000, net of income tax recovery. If Seeds income tax rate is 20%, how much is the actual loss?

• A :

  $8,000

• B :

  $10,000

• C :

  $2,000

• D :

  $6,400