Two unrelated individuals, dave and tom, own all the stock of arnold corporation, which has earnings and profits of $400,000. because of his inactivity in the business for the last several years, dave has decided to retire from the business completely and move to oregon. accordingly, arnold corporation will redeem all the stock owned by dave and, in return, dave will receive a distribution of $500,000. dave's adjusted basis in the stock is $250,000. what will be the tax effect to dave?

Cash flows during the first year of operations for the harman-kardon consulting company were as follows: cash collected from customers, $385,000; cash paid for rent, $49,000; cash paid to employees for services rendered during the year, $129,000; cash paid for utilities, $59,000. in addition, you determine that customers owed the company $69,000 at the end of the year and no bad debts were anticipated. also, the company owed the gas and electric company $2,900 at year-end, and the rent payment was for a two-year period.

Amanager of a store that sells and installs spas wants to prepare a forecast for january and june of next year. her forecasts are a combination of trend and seasonality. she uses the following equation to estimate the trend component of monthly demand: ft = 30+5t, where t = 1 in january of this year. seasonal relatives are 0.60 for january and 1.50 for june. what demands should she predict for january and june of next year

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