Becca Franklin and Suzanne Peterson formed an LLC as co-owners and managers. The LLC made $275,000 after expenses last year. There are no provisions in their operating agreement on how profits are to be split. What amount would Becca declare on her income tax return if Becca and Suzanne had formed a Subchapter S corporation and there was no provision in their agreement on how profits are to be split? a. the Subchapter S corporation must retain at least half of the $275,000 and Becca reports half of $137,500 b. $137,500 c. nothing, because the Subchapter S corporation reports that income and pays the taxes d. the full $275,000

Profits from using currency options and futures.on july 2, the two-month futures rate of the mexican peso contained a 2 percent discount (unannualized). there was a call option on pesos with an exercise price that was equal to the spot rate. there was also a put option on pesos with an exercise price equal to the spot rate. the premium on each of these options was 3 percent of the spot rate at that time. on september 2, the option expired. go to the oanda.com website (or any site that has foreign exchange rate quotations) and determine the direct quote of the mexican peso. you exercised the option on this date if it was feasible to do so. a. what was your net profit per unit if you had purchased the call option? b. what was your net profit per unit if you had purchased the put option? c. what was your net profit per unit if you had purchased a futures contract on july 2 that had a settlement date of september 2? d. what was your net profit per unit if you sold a futures contract on july 2 that had a settlement date of september 2

The five steps to financial success a. five money myths b. five foundations

Martha is one producer in the perfectly competitive jelly industry. last year, martha and all of her competitors found themselves earning economic profits. if there is free entry and exit, what do you expect to happen to the number of suppliers in the industry and the price of jelly? the number of suppliers will increase, and the price of jelly will fall. the number of suppliers will decrease, and the price of jelly will increase. the number of suppliers will increase, and the price of jelly will increase. the number of suppliers will decrease, and the price of jelly will fall.