Related to making the connection] according to an article in the wall street journal, open double quotethe highest u. s. dollar denomination, the $100 bill, trades at a significant premium in many emerging marketsclose double quote. source: mike bird, open double quotethe death of the euro500 note could boost its black market price, close double quote wall street journal, may 6, 2016. which of the following best explains why a resident of venezuela would wish to use u. s. currencies rather than currencies issued by their government? a. to better maintain their purchasing power. b. the u. s. dollar is the official currency of venezuela. c. to evade taxes. d. because they are engaging in illicit activities. why might the demand for u. s. $100 bills in emerging markets be greater than the demand for lower-denomination u. s. bills? a. prices in emerging markets are much higher than in the united states. b. large-denomination bills allow substantial transactions to be carried out in cash. c. people use large-denomination bills in their day-to-day lives. d. smaller-denomination bills facilitate illicit activities.

Selected information about income statement accounts for the reed company is presented below (the company's fiscal year ends on december 31): 2018 2017sales $ 4,400,000 $ 3,500,000cost of goods sold 2,860,000 2,000,000administrative expenses 800,000 675,000selling expenses 360,000 312,000interest revenue 150,000 140,000interest expense 200,000 200,000loss on sale of assets of discontinued component 50,000 —on july 1, 2018, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by gaap. the assets of the component were sold on september 30, 2018, for $50,000 less than their book value. results of operations for the component (included in the above account balances) were as follows: 1/1/18-9/30/18 2017 sales $ 400,000 $ 500,000 cost of goods sold (290,000 ) (320,000 )administrative expenses (50,000 ) (40,000 )selling expenses (20,000 ) (30,000 )operating income before taxes $ 40,000 $ 110,000 in addition to the account balances above, several events occurred during 2018 that have not yet been reflected in the above accounts: a fire caused $50,000 in uninsured damages to the main office building. the fire was considered to be an infrequent but not unusual event.inventory that had cost $40,000 had become obsolete because a competitor introduced a better product. the inventory was sold as scrap for $5,000.income taxes have not yet been recorded.required: prepare a multiple-step income statement for the reed company for 2018, showing 2017 information in comparative format, including income taxes computed at 40% and eps disclosures assuming 300,000 shares of common stock. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)