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Master Corp. has 10,000 common shares outstanding during the year. Net income for the year...

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Accounting

Master Corp. has 10,000 common shares outstanding during the year. Net income for the year was $50,000. On
the date of grant, the common shares were trading at $20 per share. During the year, the average price of its com-
mon stock was $20.
Required
a. Prepare the journal entry on the date of grant, January 1.
b. Prepare the journal entry on December 31.
c. Calculate basic EPS.
d. Calculate diluted EPS.
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