Greenup, a calendar year, accrual basis taxpayer, provides landscaping installation and maintenance services to its customers. In August 2015, Greenup contracted with a university to renovate its lawns and gardens. GreenUp agreed to complete the entire renovation by May 30,2017, and the university prepaid the entire $100,000 fee GreenUp completed 20% of the work in 2015, 65% in 2016, and 15% in 2017.A) how much revenue should GreenUp report on its financial statements for 2015, 2016, and 2017?B) how much taxable income must GreenUp recognize in 2015, 2016, and 2017?

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.