The following information pertains to the payrolls of Company for November 2019:Employees Wage earned Wage earned Federal Income State/localBy 10/31/2019 in November 2019 Tax Income TaxesJane $115,000 $20,000 $1,500 $650Tom 70,000 10,000 500 250Bill 6,000 1,500 0 0Actual state unemployment tax rate is 4%, while the federal unemployment tax rate is 1%. The taxable income limit for social security tax is $120,000/person, year, while the taxable income limit of SUTA and FUTA is $7,000/ person, year.Instructions: Prepare the necessary journal entries for November payrolls of Company if salaries and wages are paid in cash after withholding all payroll taxes and dues.sold 20,000 shares of $1,000 par value, 8%, 10-year debenture bonds on 1/1/2018. The bonds will pay interests on 12/31 of each year. The market interest rate was 4% as of 1/1/2018. Coyote retired these bonds for $19,500,000 on 1/1/2020.Instructions: prepare any necessary journal entries for the followings using the effective interest method.1) The issuance of the bonds.2) Interest expense accrued in 2018 and 2019.3) Retirement of the bonds on 1/1/2020.On December 31, 2019, Hawk Company presented the following data.– Net income after income tax and interest expenses $2,400,000.– Common stock (C/S)with $100 par:# of shares outstanding as of 1/1/2019 600,000# of shares issued for cash on 7/1/2019 400,000# of shares reacquired on 10/1/2019 (Tresury stocks) 120,000– 200,000 shares of 3% Convertible Preferred stock (P/S) with $50/share par value.Conversion ratio to C/S = 2 for 1; i.e., two shares of P/S will become one share of C/S– The income tax rate is 30%.– Hawk issued 3,000 shares of $1,000 par value, 2%, 5 year convertible bonds for $1,000 per share on January 1, 2019. The interests are payable annually at the end of each year. Each $1,000 bond can be converted to 10 shares of common stock within five years from 1/1/2019.– None of these convertible securities have been converted to date.– Hawk granted call options to purchase 10,000 shares of common stock for $80/share to its managers on 1/1/2019 when the option value were $5,000. None of these options have been exercised to date. The average market price of common stock was $120/share in 2019.Instructions:1) Compute Simple EPS for 2019.2) Compute Diluted EPS for 2019.