Business, 14.03.2020 00:17 1945

On December 30, 20x4, Hale Corp. paid $400,000 cash and issued 80,000 shares of its $1 par value common stock to its unsecured creditors on a pro rata basis pursuant to a reorganization plan under Chapter 11 of the bankruptcy statutes. Hale owed these unsecured creditors a total of $1,200,000. Hale's common stock was trading at $1.25 per share on December 30, 20x4.As a result of this transaction, Hale's total stockholders equity had a net increase of
a. $1,200,000
b. $ 800,000
c. $ 100,000
d. $ 80,000

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On December 30, 20x4, Hale Corp. paid $400,000 cash and issued 80,000 shares of its $1 par value com...

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