In response to complaints about high prices, a grocery chain runs the following advertising campaign: "If you pay a child $1.50 to go buy $50 worth of groceries, then you child makes twice as much on the trip as we do." You've collected the following information from the grocery chain's financial statements:

Sales $710
Net Income 10.65
Total assets 390
Total debt 280

Evaluate the grocery chain's claim. What is the basis for this statement? Is this claim misleading? Why or why not?

In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a.no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative.b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child.c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative.d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.