Question 9

Chang Industries has bonds outstanding with a par value of $215,200 and a carrying value of $225,800. If the company calls these bonds at a price of $220,000, the gain or loss on retirement is:

Multiple Choice

• $4,800 loss.

• $10,600 gain.

• $5,800 gain.

• $4,800 gain.

• $5,800 loss.

Mayan Company had net income of $31,570. The weighted-average common shares outstanding were 8,200. The company has no preferred stock. The company sold 3,200 shares before the end of the year. There were no other stock transactions. The company's earnings per share is:

Multiple Choice

• $5.36.

• $6.31.

• $3.85.

• $2.77.

• $9.87.