On december 31, westworld inc. has the following equity accounts and balances: retained earnings, $45,000; common stock, $1,000; treasury stock, $2,000; paid-in capital in excess of par value, common stock, $39,000; preferred stock, $7,000; and paid-in capital in excess of par value, preferred stock, $3,000.

prepare the stockholders’ equity section of westworld’s balance sheet. (negative amount(s) should be indicated by a minus sign.)

What is the state tax rate for a resident of arizona whose annual taxable income is $18,000?

On january 2, well co. purchased 10% of rea, inc.’s outstanding common shares for $400,000, which equaled the carrying amount and the fair value of the interest purchased in rea’s net assets. well did not elect the fair value option. because well is the largest single shareholder in rea, and well’s officers are a majority on rea’s board of directors, well exercises significant influence over rea. rea reported net income of $500,000 for the year and paid dividends of $150,000. in its december 31 balance sheet, what amount should well report as investment in rea?

Here are the expected cash flows for three projects: cash flows (dollars) project year: 0 1 2 3 4 a − 6,100 + 1,275 + 1,275 + 3,550 0 b − 2,100 0 + 2,100 + 2,550 + 3,550 c − 6,100 + 1,275 + 1,275 + 3,550 + 5,550 a. what is the payback period on each of the projects? b. if you use a cutoff period of 2 years, which projects would you accept?