On july 20, 2017, matt (who files a joint return) purchased 3,000 shares of orange corporation stock (the stock is § 1244 small business stock) for $24,000. on november 10, 2017, matt purchased an additional 1,000 shares of orange corporation stock from a friend for $150,000. on september 15, 2018, matt sold the 4,000 shares of stock for $120,000. how should matt treat the sale of the stock on his 2018 return?

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: