On december 31, 2020, merlin company had outstanding 400,000 shares of common stock and 40,000 shares of 8% cumulative preferred stock (par $10). on february 28, 2021, the preferred stock was convertible into 30,000 shares of common stock. merlin issued an additional 36,000 shares of common stock. a 10% stock dividend was declared and distributed on july 1, 2021. on september 1, 2021, 9,000 shares were retired. at year-end, there were fully vested incentive stock options outstanding for 30,000 shares of common stock (adjusted for the stock dividend). the exercise price was $18. the market price of the common stock averaged $20 during the year. also outstanding were $1,000,000 face amount of 10% convertible bonds issued in 2018 and convertible into 50,000 common shares (adjusted for the stock dividend). net income was $900,000. the tax rate for the year was 25%.
The Proclamation of 1763 was issued by the British at the end of the French and Indian War to appease Native Americans by checking the encroachment of European settlers on their lands. ... In the centuries since the proclamation, it has become one of the cornerstones of Native American law in the United States and Canada.
Answer:1 : an individual way of speaking or writing especially when used to express an emotion He replied in a friendly tone. 2 : common character or quality There was a polite tone to the discussions. 3 : quality of spoken or musical sound. 4 : a sound on one pitch. 5 : a shade of color The room is decorated in soft tones.
