Panton, Inc. acquired 18,000 shares of Glotfelty Corp. several years ago for $30 per share when Glotfelty had a book value of $450,000. Before and after that time, Glotfelty's stock traded at $30 per share. At the present time, Glotfelty reports the following stockholders' equity:
Glotfelty issues 5,000 shares of previously unissued stock to the public for $22 per share. None of this stock is purchased by Panton.Describe how this transaction would affect Panton's books.
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Total Quality Management
An organizational approach that seeks continuous improvement in all aspects of operations through the involvement of all employees, aiming to achieve long-term success through customer satisfaction.
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An ongoing effort to enhance products, services, or processes by making incremental improvements over time or through significant changes at once.
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