Miracle Vacuum, Inc., is a private, for-profit corporation that (1) was formed for the purpose of manufactur­ing and distributing a newly pat­ented appliance, (2) is owned by five share­holders, (3) is subject to double taxation, and (4) has made no public offering of its shares. Miracle is:

When the amount for land is 36,000 and the amount paid for expenses is 10,000, the balance of total asset is

Randall's, inc. has 20,000 shares of stock outstanding with a par value of $1.00 per share. the market value is $12 per share. the balance sheet shows $42,000 in the capital in excess of par account, $20,000 in the common stock account, and $50,500 in the retained earnings account. the firm just announced a 5 percent (small) stock dividend. what will the balance in the retained earnings account be after the dividend?

Heyak believed that the economy could be hard to measure because