Georgio owns a 20 percent profits and capital interest in Rain Tree LLC. For the current year, Rain Tree had the following revenues, expenses, gains, and losses: Sales revenue $70,000
Gain on sale of land ($1231) $11,000
Cost of goods sold $26,000
Depreciation - MACRS $3,000
5179 deduction* $10,000
Employee wages $11,000
Fines and penalties $3,000
Municipal bond interest $6,000
Short-term capital gains $4,000
Guaranteed payment to Sandra $3,000

*Assume the $179 property placed in service limitation does not apply.

Requried:
a. How much ordinary business income (loss) is allocated to Georgio for the year?
b. What are Georgio's separately stated items for the year?

The table shows the demand and supply schedules for magazines. complete the following sentences. the equilibrium price of a magazine is $ 4 and the equilibrium quantity is 150 magazines a week. price (dollars per magazine) quantity demanded quantity supplied (magazines per week) 3.00 160 138 3.50 155 144 4.00 150 150 4.50 145 156 5.00 140 161 now a fall in the price of a newspaper decreases the quantity demanded by 11 magazines a week at each price. at the original equilibrium price, a occurs. to return to equilibrium, the price of a magazine a. surplus; rises b. shortage; rises c. shortage; falls d. surplus; falls as the market returns to equilibrium, the quantity demanded and the quantity supplied a. decreases; increases b. decreases; decreases c. increases; decreases d. increases; increases the new equilibrium price is $ nothing a magazine.

Highland company produces a lightweight backpack that is popular with college students. standard variable costs relating to a single backpack are given below

Last week paul, ceo of quality furniture in south carolina, traveled to europe to visit customers. while overseas, paul checked his e-mail daily and showed his company's website to customers, explaining how the website will them place orders and receive merchandise more quickly. after visiting the last customer friday morning, paul was able to return to the corporate office in south carolina to meet with his board of directors that night. is the "shrinking" of time and space with air travel and electronic media.