Question
Sports Spectacular purchased 1,200 shares (8%) of stock in The Athletic Warehouse for $50 per share. By the end of the year, the stock price
Sports Spectacular purchased 1,200 shares (8%) of stock in The Athletic Warehouse for $50 per share. By the end of the year, the stock price has increased to $52 per share. How would the change in stock price affect Sports Spectacular's net income?
Multiple Choice
Increase net income by $62,400.
Increase net income by $60,000.
Increase net income by $2,400.
No effect.
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Accounting An Introduction
Authors: Eddie McLaney, Dr Peter Atrill, Eddie J. Mclan
5th Edition
0273733206, 978-0273733201
