Please to work out the answers, so that I can understand them. I need them by tomorrow, so please help.

Name: ____________________________ 3. 1. 2. Choco Corporation was organized on January 3, 2014. The firm was authorized to issue 1,000,000 shares of $0.5 par common stock. During 2014, Choco had the The shareholders' equity of Choco Corporation includes $120,000 of $1 par following transactions relating to shareholders' equity: common stock and $600,000 par value of 5% cumulative preferred stock. The Issued 600,000 shares of common stock at $5 per share. board of directors of Choco declared cash dividends of $90,000 in 2015 after Issued 100,000 shares of common stock at $6 per share. paying $20,000 cash dividends in each of 2014 and 2013. What is the amount of Reported a net income of $800,000. dividends common shareholders will receive in 2015? Paid dividends of $150,000. A. $90,00 What is total paid-in capital from common stock (=common stock + paid in 0. capital in excess of par) at the end of 2014? B. $50,00 A. $3,600,00 0. 0. C. $40,00 B. $4,250,00 0. 0. D. $30,00 C. $4,400,00 0. 0. D. $4,550,00 0. Choco Corporation was organized on January 1, 2014. The firm was authorized to issue 1,000,000 shares of $1 par common stock. During 2014, Choco had the following transactions relating to shareholders' equity: 3/1/14: Issued 250,000 shares of common stock at $7 per share. 4/1/14: Issued 100,000 shares of common stock at $8 per share. 12/31/14: Reported a net income of $700,000. 12/31/14: Paid dividends of $60,000. During the year 2014, purchased 30,000 shares of treasury stock at $7 (part of the 250,000 shares issued at $7 in 3/1/14). What is total shareholders' equity at the end of 2014? A. $2,980,00 0. B. $3,400,00 0. C. $2,760,00 0. D. $2,340,00 0. 4. Choco, Inc., initially issued 500,000 shares of $1 par value stock for $1,500,000 in 2011. In 2013, the company repurchased 40,000 shares for $200,000. In 2014, 7,000 of the repurchased shares were resold for $55,000. In its balance sheet dated December 31, 2014, Choco, Inc.'s treasury stock account shows a balance of? A. $200,00 0. B. $235,00 0. C. $165,00 0. D. $145,00 0. 5. At the beginning of 2012, Choco Corporation issued 100,000 shares of $1 par, 4%, cumulative, preferred stock for $20 per share. No dividends have been paid to preferred or common shareholders since the beginning of 2012. What amount of dividends will a preferred shareholder owning 3,500 shares receive in December 31, 2015 if Choco pays $40,000 in dividends? A. $16,00 0. B. $14 0. C. $4,00 0. D. $56 0. 6. Choco Services granted 600,000 shares of its $2 par common shares to executives as a stock award, subject to forfeiture if employment is terminated within five years. The common shares have a market price of $15 per share on the grant date. Ignoring taxes, what is the compensation expense that Choco Service record each year after the shares are granted to executives? A. $9,000,00 0. B. $1,200,00 0. C. $1,800,00 0. D. $240,00 0. 7. Under its executive stock option plan, Choco Corporation granted options on January 1, 2013, that permit executives to purchase 10 million of the company's $1 par common shares within the next ten years, but not before December 31, 2016 (the vesting date). The exercise price is the market price of the shares on the date of grant, $10 per share. The fair value of the options, estimated by an appropriate option pricing model, is $7 per option. No forfeitures are anticipated. The options are exercised on April 2, 2017, when the market price is $21 per share. By what amount will Choco's shareholder's equity be increased when the options are exercised? (hint: think about the journal entry on April 2, 2017) A. $70 million. B. $100 million. C. $170 million. D. $10 million. Under its executive stock option plan, Choco Corporation granted options on January 1, 2013, that permit executives to purchase 10,000 shares of the company's $1 par common stock within the next ten years, but not before December 31, 2016 (the vesting date). The exercise price is the market price of the shares on the date of grant, $12 per share. The fair value of the options, estimated by an appropriate option pricing model, is $5 per option. No forfeitures 8. are anticipated. The entire options expired in 2019 without being exercised. Prepare journal entry. A. Compensation expense 50,000 Paid in capital-expired stock option 50,000 B. Paid in capital-stock option 50,000 Common stock 50,000. C. Common stock 50,000 Paid in capital-stock option 50,000 D. Paid in capital-stock option 50,000 Paid in capital-expired stock option 50,000 9-10. During 2014, Choco Corporation had 600,000 shares of common stock and 40,000 shares of 2% preferred stock outstanding. The preferred stock does not have cumulative or convertible features. Choco declared and paid cash dividends of $70,000 and $240,000 to common and preferred shareholders, respectively, during 2014. On January 1, 2013, Choco issued $2,000,000 of convertible 3% bonds at face value. Each $1,000 bond is convertible into five common shares. Choco's net income for the year ended December 31, 2014, was $6,000,000. The income tax rate is 40%. 9. What is Choco's basic earnings per share for 2014, rounded to the nearest cent? A. $10.4 0 B. $10.0 0. C. $9.6 0. D. $9.5 0. . 10. What will Choco report as diluted earnings per share for 2014, rounded to the nearest cent? A. $10.4 0 B. $10.0 0. C. $9.6 0. D. $9.5 0