December 1 $ 34 per share
The service period is for three years beginning January 1 , 2015 . As a result of the option granted to Telfer , using the fair value method , Evans should recognize compensation expense for 2015 on its books in the amount of
12 ) Presented below is information related to Hale Corporation :
Common Stock , $ 1 par $ 4,500,000
Paid-in Capital in Excess of Par ― Common Stock 550,000
Preferred 8 1 / 2 % Stock , $ 50 par 2,000,000
Paid-in Capital in Excess of Par ― Preferred Stock 400,000
Retained Earnings 1,500,000