On january 1, 2011, nana company paid 100,000 for 8,000 shares of papa company common stock. these securities were classifed as trading securities. the ownership in papa company is 10%. papa reported net income of $52,000 for the year ended december 31, 2011. the fair value of the papa stock on that date was $45 per share. what amount will be reported in the balance sheet of nana company for the investment in papa at december 31, 2011?

Schuepfer inc. bases its selling and administrative expense budget on budgeted unit sales. the sales budget shows 1,800 units are planned to be sold in march. the variable selling and administrative expense is $4.30 per unit. the budgeted fixed selling and administrative expense is $35,620 per month, which includes depreciation of $2,700 per month. the remainder of the fixed selling and administrative expense represents current cash flows. the cash disbursements for selling and administrative expenses on the march selling and administrative expense budget should be: