Samuel and Darci are partners. The partnership capital for Samuel is $57,500 and that of Darci is $72,400. Josh is admitted as a new partner by investing $57,800 cash. Josh is given a 25% interest in return for his investment. The amount of the bonus to the old partners is

a.$10,875

b.$62,567

c.$0

d.$57,800

Texas Inc. has 12,000 shares of 8%, $125 par value cumulative preferred stock and 92,000 shares of $1 par value common stock outstanding at December 31. What is the annual dividend on the preferred stock?

a.$80.00 per share

b.$7,360 in total

c.$120,000 in total

d.$0.01 per share

An investor purchased 696 shares of common stock, $24 par, for $34,104. Subsequently, 119 shares were sold for $32 per share. What is the amount of gain or loss on the sale?

a.$2,023 gain

b.$2,023 loss

c.$2,975 gain

d.$2,975 loss