18) Slack Inc. borrowed $ 320,000 on April 1. The note requires interest at 12 % and principal to be paid in one year. How much interest is recognized for the period from April 1 to December 31?
19) Venible newspapers sold 6,000 of annual subscriptions at $ 125 each on June 1. How much unearned revenue will exist as of December 31?
20) Hanson Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $ 1,000,000 of 5 % convertible bonds outstanding during 2015. The preferred stock is convertible into 40,000 shares of common stock. During 2015, Hanson paid dividends of $. 60 per share on the common stock and $ 2 per share on the preferred stock. Each $ 1,000 bond is convertible into 45 shares of common stock. The net income for 2015 was $ 400,000 and the income tax rate was 30 %.
Basic earnings per share for 2015 is( rounded to the nearest penny)
21) Sealy Corporation had the following information in its financial statements for the years ended 2014 and 2015:
Cash dividends for the year 2015 $ 5,000