On January 6 of the current year Paxton and Jackson form PJ LLC. Their contributions to the LLC are as follows:

Adjusted Basis Fair Market Value

From Paxton:

Cash $680,000 $680,000

Temporary investments $118,000 $120,000

Accounts receivable $0 $540,000

Inventory $840,000 $880,000

From Jackson:

Cash $1,850,000 $1,850,000

Supplies $370,000 $370,0

Required:

1. Within 30 days of formation, PJ collects the receivables and sells the inventory for $60,000 cash. How much income does PJ recognize from these transactions, and what is its character?

Identify the three components of a family's culture and provide one example from your own experience

phillips, inc. had the following financial data for the year ended december 31, 2019. cash $ 41,000 cash equivalents 75,000 long term investments 59,000 total current liabilities 149,000 what is the cash ratio as of december 31, 2019, for phillips, inc.? (round your answer to two decimal places.)

Stocks a, b, and c are similar in some respects: each has an expected return of 10% and a standard deviation of 25%. stocks a and b have returns that are independent of one another; i.e., their correlation coefficient, r, equals zero. stocks a and c have returns that are negatively correlated with one another; i.e., r is less than 0. portfolio ab is a portfolio with half of its money invested in stock a and half in stock b. portfolio ac is a portfolio with half of its money invested in stock a and half invested in stock c. which of the following statements is correct? a. portfolio ab has a standard deviation that is greater than 25%.b. portfolio ac has an expected return that is less than 10%.c. portfolio ac has a standard deviation that is less than 25%.d. portfolio ab has a standard deviation that is equal to 25%.e. portfolio ac has an expected return that is greater than 25%.