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Kelley company reports $960,000 of net income for 2013 and declares 120,000 of cash dividends on its preferred stock for 2013. At the end of 2013, the company had 400,000 weighted-average shares of common stock.
1. What amount of net income is available to common stockholders for 2013?
2. What is the company's basic EPS for 2013? Round your answer to the nearest whole cent.
How is the business process level pattern for the conversion cycle similar to the business process pattern for the revenue cycle? How are the two patterns different?
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Caleb Samford calls you and says that his two-person S corporation was involuntarily terminated in February 2010. He asks you if they can make a new S election now, in November 2011. Draft a memo for the file outlining what you told Caleb.
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Kathy is a self-employed taxpayer working exclusively from her home office. Before the home office deduction, Kathy has $3,000 of net income. Her allocable home office expenses are $5,000 in total. How are the home office expenses treated on her c..
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