Charles is a loss control representative with ABC Insurance Company. He has been with the company for eighteen years and is experienced and knowledgeable. Charles is also very involved in a number of activities outside of work, and is well thought of by the groups in which he is involved. He is active in his church's outreach program, he is a Scout leader, and he coaches softball in the summer and hockey in the winter. Charles knows that his supervisor is due to retire in the next year or two and he is hoping to be able to take over the position. He has had several frank discussions with his supervisor about this. His supervisor has been supportive but has also pointed out that the job would require him to work long hours and to take work home with him as well. Charles would need to give up many of his extracurricular activities in order to keep up with the demands of the job. This poses an ethical dilemma for Charles. Which one of the following types of ethical conflicts does this situation most clearly represent? a. Long-term versus short-term
b. Truth versus loyalty
c. Individual versus community
d. Justice versus mercy

Kandon enterprises, inc., has two operating divisions; one manufactures machinery and the other breeds and sells horses. both divisions are considered separate components as defined by generally accepted accounting principles. the horse division has been unprofitable, and on november 15, 2018, kandon adopted a formal plan to sell the division. the sale was completed on april 30, 2019. at december 31, 2018, the component was considered held for sale. on december 31, 2018, the company’s fiscal year-end, the book value of the assets of the horse division was $415,000. on that date, the fair value of the assets, less costs to sell, was $350,000. the before-tax loss from operations of the division for the year was $290,000. the company’s effective tax rate is 40%. the after-tax income from continuing operations for 2018 was $550,000. required: 1. prepare a partial income statement for 2018 beginning with income from continuing operations. ignore eps disclosures. 2. prepare a partial income statement for 2018 beginning with income from continuing operations. assuming that the estimated net fair value of the horse division’s assets was $700,000, instead of $350,000. ignore eps disclosures.