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On its 1999 balance sheet, Sherman Books showed a balance of retained earnings equal to $510 million. On its 2000 balance sheet, the balance of retained earnings was also equal to $510 million. Which of the following statements is most correct? Show your calculations.
a. The company must have had net income equal to zero in 2000.
b. The company had a profit in 2000 but did not pay a dividend in 2000.
c. the company's net income in 2000 was $200 million.
d. If the company lost money in 2000, they must have paid a dividend.
e. None of the statements above is correct.
On June 1, 2013, Madison notified bondholders of its intent to call the bonds at face value plus a 1% call premium on July 1, 2013. By June 30 all bondholders had chosen to convert their bonds into shares as of the interest payment date. On June 3..
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Under the equity method, a parent company that has guaranteed all of its subsidiary's debt would:
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In which of the following situations is the taxpayer not allowed a deduction for moving expenses?
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Analyze the above information and prepare an income statement for the year 2012, starting with income from continuing operations before income tax. Compute earnings per share as it should be shown on the face of the income statement.
A house worth $70,000 is purchased with a down payment of $20,000 and a mortgage amortized over 20 years. If the interest rate is 14% compounded semi- annually;
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