Jack and jill are owners of upahill, an s corporation. they own 25 and 75 percent, respectively. upahill corporation (an s corporation) income statement december 31, year 1 and year 2 year 1 year 2 sales revenue $ 175,000 $ 310,000 cost of goods sold (60,000 ) (85,000 ) salary to owners jack and jill (40,000 ) (50,000 ) employee wages (15,000 ) (20,000 ) depreciation expense (10,000 ) (15,000 ) miscellaneous expenses (7,500 ) (9,000 ) interest income (related to business) 2,000 2,500 qualified dividend income 500 1,000 overall net income $ 45,000 $ 134,500 a. what amount of ordinary income and separately stated items are allocated to them for years 1 and 2 based on the information above? assume that upahill corporation has $100,000 of qualified property (unadjusted basis) in both years

Peninsula products has just applied for a loan at your bank. when reviewing peninsula's books for the year that just ended, you notice that the firm uses the fair value option for its bonds payable. you also see that the firm recorded a $55,000 debit in its bonds payable account and a $55,000 credit in its unrealized holding gain or loss"income account. over that same period, interest rates decreased by about 0.5 percent. how should this information affect the bank's decision as to whether to grant peninsula a loan? a : the bank should strongly consider giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen an increase in its credit rating over the past year. b : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely the result of the rise in interest rates. c : the bank should hesitate before giving a loan to peninsula because the changes in firm's bonds payable and unrealized holding gain or loss"income accounts suggest that peninsula has seen a decline in its credit rating over the past year. d : the bank should put little emphasis on the changes in peninsula's bonds payable and unrealized holding gain or loss"income accounts because these changes are likely unrelated to either interest rates or the firm's credit rating.

"richard wants to know how his company handles late lunches but does not want to ask anyone. instead, he watches others take late lunches and observes the manager's reaction. richard is"

Cvp analysis, shoe stores. the highstep shoe company operates a chain of shoe stores that sell 10 different styles of inexpensive men's shoes with identical unit costs and selling prices. a unit is defined as a pair of shoes. each store has a store manager who is paid a fixed salary. individual salespeople receive a fixed salary and a sales commission. highstep is considering opening another store that is expected to have the revenue and cost relationships shown here.