Silo Incorporated sold investment land to PPR Incorporated for $110,000 cash. Silo’s basis in the land was $145,000. Mr. and Mrs. Jersey own 100 percent of the stock of both corporations. Required: What is PPR’s tax basis in the land purchased from Silo? PPR holds the land as an investment for seven years before selling it to an unrelated buyer. Compute the gain or loss recognized if the amount realized on sale is: (1) $100,000, (2) $116,000, or (3) $150,000.

Faldo corp sells on terms that allow customers 45 days to pay for merchandise. its sales last year were $325,000, and its year-end receivables were $60,000. if its dso is less than the 45-day credit period, then customers are paying on time. otherwise, they are paying late. by how much are customers paying early or late? base your answer on this equation: dso - credit period = days early or late, and use a 365-day year when calculating the dso. a positive answer indicates late payments, while a negative answer indicates early payments.a. 21.27b. 22.38c. 23.50d. 24.68e. 25.91b