Two unrelated individuals, dave and tom, own all the stock of arnold corporation, which has earnings and profits of $400,000. because of his inactivity in the business for the last several years, dave has decided to retire from the business completely and move to oregon. accordingly, arnold corporation will redeem all the stock owned by dave and, in return, dave will receive a distribution of $500,000. dave's adjusted basis in the stock is $250,000. what will be the tax effect to dave?

If the family’s net monthly income is 7,800 what percent of the income is spent on food clothing and housing?

As a result of a thorough physical inventory, waterway company determined that it had inventory worth $320200 at december 31, 2020. this count did not take into consideration the following facts: walker consignment currently has goods worth $47400 on its sales floor that belong to waterway but are being sold on consignment by walker. the selling price of these goods is $75900. waterway purchased $21900 of goods that were shipped on december 27, fob destination, that will be received by waterway on january 3. determine the correct amount of inventory that waterway should report.

Mason farms purchased a building for $689,000 eight years ago. six years ago, repairs costing $136,000 were made to the building. the annual taxes on the property are $11,000. the building has a current market value of $840,000 and a current book value of $494,000. the building is totally paid for and solely owned by the firm. if the company decides to use this building for a new project, what value, if any, should be included in the initial cash flow of the project for this building? $0$582,000$840,000$865,000$953,000