24. Cox Corporation was organized on January 1, 2003, at which date it issued 10

Question

24. Cox Corporation was organized on January 1, 2003, at which date it issued 100,000 shares of $10 par value common stock at $15 per share. During the period January 1 2002 through December 31, 2005, Cox reported net income of $450,000 and paid cash dividends of $230,000. On January 10, 2005, Cox purchased 6,000 shares of its common stock at $12 per share. On December 31, 2005, Cox sold 4,000 treasury shares at $8 per share. Cox uses the cost method of accounting for treasury shares. What is Cox

Explanation / Answer

the answer is c

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