The stock of cooper corporation is 70% owned by carole and 30% owned by carole's brother, chris. during 2017, chris transferred property (basis of $100,000 and fmv of $120,000) as a contribution to the capital of cooper. during february 2018, cooper adopted a plan of liquidation and subsequently made a pro rata distribution of the property back to carole and chris. at the time of the liquidation, the property had an fmv of $80,000. what amount of loss can be recognized by cooper on the distribution of property?

Suppose that kenji, an economist from an am talk radio program, and lucia, an economist from a school of industrial relations, are arguing over health insurance. the following dialogue shows an excerpt from their debate: lucia: a popular topic for debate among politicians as well as economists is the idea of providing government assistance for health benefits. kenji: i think it is oppressive for the government to tax people who take care of themselves in order to pay for health insurance for those who are obese. lucia: i disagree. i think government funding of health insurance is useful to ensure basic fairness. the disagreement between these economists is most likely due to . despite their differences, with which proposition are two economists chosen at random most likely to agree? lawyers make up an excessive percentage of elected officials. minimum wage laws do more to harm low-skilled workers than them. tariffs and import quotas generally reduce economic welfare.

3. describe the purpose of the sec. (1-4 sentences. 2.0 points)

mary's baskets company expects to manufacture and sell 30,000 baskets in 2019 for $5 each. there are 4,000 baskets in beginning finished goods inventory with target ending inventory of 4,000 baskets. the company keeps no work-in-process inventory. what amount of sales revenue will be reported on the 2019 budgeted income statement?