On january 1, 2013, point corporation acquired an 80% interest in sharp company for $2,022,000. at that time sharp company had common stock of $1,476,000 and retained earnings of $710,000. the book values of sharp company’s assets and liabilities were equal to their fair values except for land and bonds payable. the land had a fair value of $98,000 and a book value of $81,000. the outstanding bonds were issued at par value on january 1, 2008, pay 11% annually, and mature on january 1, 2018. the bond principal is $503,000 and the current yield rate on similar bonds is 9%.

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

answer; purpose nondisclosure;

answera major piece of legislation affecting the financial industry and containing significant privacy provisions for individuals;