financial note on provisionsThe company has 100,000 preferred shares issued and outstanding for the entire...
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financial note on provisionsThe company has 100,000 preferred shares issued and outstanding for the entire year. The preferred shares are non-cumulative and non-participating. There is a conversion feature where each preferred share can be converted into 20 common shares. On January 1, 2021; the company had 600,000 common shares outstanding. On April 1, the company issued 200,000 common shares. There was a 2 for 1 stock split on June 1. These transactions have been accounted for and are included on
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