Fortune, Inc., is preparing its master budget for the first quarter. The company sells a single product at a price of $25 per unit. Sales (in units) are forecasted at 40,000 for January, 60,000 for February, and 50,000 for March. Cost of goods sold is $12 per unit. Other expense information for the first quarter follows. Commissions 10 % of sales dollars Rent $ 17,000 per month Advertising 11 % of sales dollars Office salaries $ 74,000 per month Depreciation $ 55,000 per month Interest 13 % annually on a $210,000 note payable Tax rate 40 % Prepare a budgeted income statement for this first quarter. (Round your final answers to the nearest whole dollar.)

Tara incorporates her sole proprietorship, transferring it to newly formed black corporation. the assets transferred have an adjusted basis of $240,000 and a fair market value of $300,000. also transferred was $10,000 in liabilities, $1,000 of which was personal and the balance of $9,000 being business related. in return for these transfers, tara receives all of the stock in black corporation. a. black corporation has a basis of $241,000 in the property. b. black corporation has a basis of $240,000 in the property. c. tara’s basis in the black corporation stock is $241,000. d. tara’s basis in the black corporation stock is $249,000. e. none of the above.

Scenario: you have advised the owner of bond's gym that the best thing to do would be to raise the price of a monthly membership. the owner wants to know what may happen once this price increase goes into effect. what will most likely occur after the price of a monthly membership increases? check all that apply. current members will pay more per month. the quantity demanded for memberships will decrease. the number of available memberships will increase. the owner will make more money. bond's gym will receive more membership applications.

Amanufacturer has paid an engineering firm $200,000 to design a new plant, and it will cost another $2 million to build the plant. in the meantime, however, the manufacturer has learned of a foreign company that offers to build an equivalent plant for $2,100,000. what should the manufacturer do?