When padgett properties llc was formed, nova contributed land (value of $200,000 and basis of $50,000) and $100,000 cash, and oscar contributed cash of $300,000. both partners received a 50% interest in partnership profits and capital. a. how is the land recorded for § 704(b) book capital account purposes? for § 704(b) book capital account purposes, padgett records the land at $. what is padgett’s tax basis in the land? $. if padgett sells the land several years later for $300,000, nova reports a $ and oscar’s gain is $

Paula makes stained-glass windows and sells them to boutique stores. if her costs total $12,000 per year plus $4 per window for the frame. how many windows must she produce to earn a profit of at least $48,000 in one year if she sells the windows for $28 each? 1. define a variable for the situation. 2. write an inequality that represents her profit. note: revenue is money coming in. cost is money going out. profit is the difference between the revenue and the cost. in other words: revenue - costs profit 3.using words, describe how many windows she must sell to have a profit of at least $48,000.