Answered

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om recently received 2,180 shares of restricted stock from his employer, Independence Corporation, when the share price was $10 per share. Tom's restricted shares vested three years later when the market price was $14. Tom held the shares for a little more than a year and sold them when the market price was $12. What is the amount of Tom's income or loss on the sale

Sagot :

Answer:

the amount of loss on the sale is $4,360

Explanation:

the computation of the amount of Tom's income or loss on the sale is shown below:

= 2,180 shares ×$12 - 2,180 shares × $14

= $26,160 - $30,520

= $4,360

Hence, the amount of loss on the sale is $4,360

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