Jan is an attorney at a law firm and she knows information about change in the status of litigation against one of the corporate clients of her firm. she knows that the company is in huge legal trouble and is going to settle for billions of dollars, and this will subsequently probably reduce stock prices. so she sells all her stock immediately and tells all her friends with stock in the company to sell as quickly as possible. in this situation, . jan used inside material information to make a profit b. jan did not engage in insider trading c. jan did not use inside material information because the information she had was not important d. jan did not use inside material information e. jan has the legal right to use this private information for her personal gain in a capitalist society

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.