Denis bought a home fresh out of college from his parents for $10,000. He is ready to sell the home now, 20 years later, which substantially increased in value. He is concerned about paying capital gains taxes. His real estate agent told him that the long-term tax rate for most homeowners ranges from zero to , depending on several factors, and referred him to a tax accountant to discuss his particular situation in detail.

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: