perezanthony2403
16.07.2019 •
Business
On the date of its incorporation, pinnacle manufacturing issued 50,000 shares of $5 par common stock at $7 per share. later, over the course of 2017, pinnacle acquired 10,000 shares of its outstanding common stock at a price of $9 per share and accounted for them using the cost method. then, in march 2018, pinnacle sold these shares at a price of $8 per share. outside of these events, pinnacle has not issued or acquired any additional common stock. given this information, pinnacle’s sale of treasury stock must have
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