Jana Dart, a citizen of California, was attending the premier showing of the movie "Titanic" at the Yoda Four-PO Theatres in Salt Lake City, Utah. She bought a cola and popcorn, and the popcorn contained some small pieces of broken glass. Engrossed in the movie, she ate enough glass to cause severe and numerous internal injuries. She suffered a great deal of pain and anguish, plus numerous medical expenses, and she could not work for four months. She wishes to sue Yoda Four-PO Theatres for $200,000 in damages. The firm’s headquarters are in Texas, although the company does business in Utah and Maine. In which court or courts can Dart bring her suit—in a Utah State court, a Texas State court, a California State court, or a federal court? Explain. Do you agree with this outcome? Why or why not?

Kandon enterprises, inc., has two operating divisions; one manufactures machinery and the other breeds and sells horses. both divisions are considered separate components as defined by generally accepted accounting principles. the horse division has been unprofitable, and on november 15, 2018, kandon adopted a formal plan to sell the division. the sale was completed on april 30, 2019. at december 31, 2018, the component was considered held for sale. on december 31, 2018, the company’s fiscal year-end, the book value of the assets of the horse division was $415,000. on that date, the fair value of the assets, less costs to sell, was $350,000. the before-tax loss from operations of the division for the year was $290,000. the company’s effective tax rate is 40%. the after-tax income from continuing operations for 2018 was $550,000. required: 1. prepare a partial income statement for 2018 beginning with income from continuing operations. ignore eps disclosures. 2. prepare a partial income statement for 2018 beginning with income from continuing operations. assuming that the estimated net fair value of the horse division’s assets was $700,000, instead of $350,000. ignore eps disclosures.