Detroit corporation sued chicago corporation for intentional damage to detroit's goodwill. detroit had created its goodwill through providing high-quality services to its customers. thus, no basis for the goodwill appeared on detroit's balance sheet. the suit was settled and detroit received $1,500,000 for the damages to its goodwill. a. the $1,500,000 is not taxable because it represents a recovery of capital. b. the $1,500,000 is taxable because detroit has no basis in the goodwill. c. the $1,500,000 is not taxable because detroit did nothing to earn the money. d. the $1,500,000 is not taxable because detroit settled the case. e. none of these.

You have just been hired as a financial analyst for barrington industries. unfortunately, company headquarters (where all of the firm's records are kept) has been destroyed by fire. so, your first job will be to recreate the firm's cash flow statement for the year just ended. the firm had $100,000 in the bank at the end of the prior year, and its working capital accounts except cash remained constant during the year. it earned $5 million in net income during the year but paid $800,000 in dividends to common shareholders. throughout the year, the firm purchased $5.5 million of machinery that was needed for a new project. you have just spoken to the firm's accountants and learned that annual depreciation expense for the year is $450,000; however, the purchase price for the machinery represents additions to property, plant, and equipment before depreciation. finally, you have determined that the only financing done by the firm was to issue long-term debt of $1 million at a 6% interest rate. what was the firm's end- of-year cash balance? recreate the firm's cash flow statement to arrive at your answer

Asap describe three different expenses associated with restaurants. choose one of these expenses, and discuss how a manager could handle this expense.

Sam and diane are completing their federal income taxes for the year and have identified the amounts listed here. how much can they rightfully deduct? • agi: $80,000 • medical and dental expenses: $9,000 • state income taxes: $3,500 • mortgage interest: $9,500 • charitable contributions: $1,000.