On June 5, a company purchases 280 units of inventory on account for $28 each. After closer examination, the company determines 30 units are defective and returns them to its supplier for full credit on June 9. All remaining inventory is sold on account on June 16 for $51 each. Required:Record transactions for the purchase, return, and sale of inventory assuming the company uses a perpetual inventory system.

Cosmetic profits. sally is the executive vice president of big name cosmetics company. through important and material, nonpublic information, she learns that the company is soon going to purchase a smaller chain of stores. it is expected that stock in big name cosmetics will rise dramatically at that point. sally immediately buys a number of shares of her company's stock. she also tells her friend alice about the expected purchase of stores. alice wanted to purchase stock in the company but lacked the funds with which to do so. although she did not have the funds in bank a, alice decided to draw a check on bank a and deposit the check in bank b and then proceed to write a check on bank b to cover the purchase of the stock. she hoped that she would have sufficient funds to deposit before the check was presented for payment. of which of the following offenses, if any, is alice guilty of by buying stock?