Question: Master Corp. has 1 0 , 0 0 0 common shares outstanding during the year. Net income for the year was $ 5 0 ,

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

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