An analyst gathers the following information about Meyer, Inc.:
• Meyer has 1,800 shares of 10% cumulative preferred stock outstanding, with a par value of $100 and liquidation value of $110.
• Meyer has 20,000 shares of common stock outstanding, with a par value of $20.
• Meyer had retained earnings at the beginning of the year of $5,400,000.
• Net income for the year was $78,000.
• This year, for the first time in its history, Meyer paid no dividends on preferred or common stock.
Calculate the total book value of Meyer’s common stock.
I started with the par value of common stock ($400M), added the prior year’s RE of $5,400M, the change in returned earnings of $78M, subtracted the deferred dividends of the cumulative preferred stock of $18M, and got $5,860M. I tried a bunch of different ways but can’t seem to figure out what the answer should be. Does anyone know how I would go about solving this?

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.

Winners of the georgia lotto drawing are given the choice of receiving the winning amount divided equally over 2121 years or as a lump-sum cash option amount. the cash option amount is determined by discounting the annual winning payment at 88% over 2121 years. this week the lottery is worth $1616 million to a single winner. what would the cash option payout be?

Retail industry fundamentals credential exam,part 1 all answers