Peterson photoshop sold $1,400 in gift cards on a special promotion on october 15, 2018, and sold $2,100 in gift cards on another special promotion on november 15, 2018. of the cards sold in october, $140 were redeemed in october, $350 in november, and $420 in december. of the cards sold in november, $210 were redeemed in november and $490 were redeemed in december. peterson views the probability of redemption of a gift card as remote if the card has not been redeemed within two months. at 12/31/2018, peterson would show an deferred revenue account for the gift cards with a balance of:

$0
$1,890
$1,400
$2,100

Ronald sees that his employer's stock has grown from $20 a share to $60 a share this year, while most stocks have seen only 5% growth. his employer offers to let him convert a large portion of his salary into stock options. what is not a valid reason to turn down the stock offer? a)stocks with high returns have high volatility, and ronald's company may not grow further. b)ronald may be taxed more for capital gains than he would be for employment income. c)stock options are illiquid, and ronald may not be able to use them to pay for unexpected bills. d)ronald would be committing stock fraud if he exercises the options.