Flintstone company is owned equally by fred stone and his sister wilma, each of whom hold 2,500 shares in the company. wilma wants to reduce her ownership in the company, and it was decided that the company will redeem 560 of her shares for $26,000 per share on december 31 of this year. wilma’s income tax basis in each share is $8,750. flintstone has current e& p of $10,420,000 and accumulated e& p of $50,690,000.what is the amount and character recognized by wilma as results of the stock redemption, assuming only the "sustainabiity disproportionate with respect to shareholder" test is applied?

Which of the following best explains why a large company can undersell small retailers? a. large companies can offer workers lower wages because they provide more jobs. b. large companies can pay their employees less because they do unskilled jobs. c. large companies can negotiate better prices with wholesalers. d. large companies have fewer expenses associated with overhead.

Choose the best term for each definitionexpense, liability, monetary asset, statement of financial position, tangible asset, net worth, market value, investment asset, income, assetitems of monetary value a person or household ownsmoney spentmoney receivedfinancial assets purchased with the hope that they will generate income and appreciate in value to make it possible to sell at a higher price in the futurea debt or obligation owed to othersthe amount you could realistically sell an asset forassets that can be quickly and easily converted into casha measure of financial wealth and indicates the monetary value of all possessions that a person or household owns, minus the total amounts owed to othersa financial statement that describes an individual or family's financial condition on a specified date by showing assets, liabilities, and net worthpersonal property that was purchased to create a lifestyle or improve your life

Suppose that electricity producers create a negative externality equal to $5 per unit. further suppose that the government imposes a $5 per-unit tax on the producers. what is the relationship between the after-tax equilibrium quantity and the socially optimal quantity of electricity to be produced?