Panton, Inc Glotfelty Issues 5,000 Shares of Previously Unissued Stock to the Ago

question 103

Essay

Panton, Inc. acquired 18,000 shares of Glotfelty Corp. several years ago. At the present time, Glotfelty is reporting the following stockholders' equity: $\begin{array}{|l|r|}\hline \text { Common stock, } \$ 10 \text { par value (20,000 shares outstanding) } & \$ 200,000 \\\hline \text { Additional paid in capital } & 100,000 \\\hline \text { Retained earnings } & 300,000 \\\hline & \$ 600,000 \\\hline\end{array}$ Glotfelty issues 5,000 shares of previously unissued stock to the public for $40 per share. None of this stock is purchased by Panton.

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Definitions:

Unintentional Injuries

are injuries that occur without the intent to harm and typically result from accidents or negligence.

Homicide

The act of killing one human being by another, whether lawful or unlawful.

Accidental Injuries

Unplanned injuries resulting from unexpected events, often leading to harm or damage.

Homicide

The intentional and illegal act of one individual causing the death of another.