On January 1, 2019, Everlasting, Inc. purchased Comet Corporation for $650,000. On that date the net assets of Comet had a book value of $320,000, and book values were equal to fair values with the following exceptions: FIFO Inventory --Undervalued, $30,000

Land--Undervalued, $10,000

Equipment (5 year life)--Undervalued, $75,000

Patent (5-year life)--Undervalued, $25,000

During 2019, Everlasting had income from its own operations of $220,000 and Comet had net income of $80,000.

38. What amount of 2019 Equity Income was recognized by Everlasting?


39. What is 2019 consolidated net income?


40. What amount of goodwill appeared on the consolidated balance sheet at December 31, 2019?

Match the various steps in the creative process undertaken by the ad agency for developing the campaign for wpu, to the steps in young's model of the creative process.creative process in developing wpu's campaignyoung's modelafter intensive analysis of the data and several rounds of brainstorming, the agency executives decided to take a break from this project (the wpu campaign), and instead work on a different client's project before tackling the wpu project again.using a combination of animatics and storyboards, the ad agency conducted research with a representative sample of sixty target consumers to pretest the campaign theme and the creative execution.during a brainstorming session in the creative department, a copywriter's suggestion for a slogan for wpu was recognized as an excellent central idea that could drive the campaign for wpu.the account planning, account management and creative departments at the ad agency had a series of meetings and brainstorming sessions to discuss the creative brief and the results of all the primary and secondary research done with the target consumers.the account planning and the account management groups at the ad agency conducted primary research with a representative sample of the target segment and also studied secondary research data to gain insights required for the campaign development process.

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

When many scrum teams are working on the same product, should all of their increments be integrated every sprint?