Suppose that at the beginning of 2020 Jamaal's basis in his S corporation stock is $0, he has a $0 debt basis associated with a $18,000 loan he made to the S corporation, and he has a $13,000 suspended loss from the S corporation. In 2020, Jamaal contributed $16,000 to the S corporation, and the S corporation had ordinary income of $12,000. Assume that Jamaal owns 40 percent of the S corporation. How much net income or loss does Jamaal report this year from the S corporation

Consider the following scenarios. use what you have learned to decide if the goods and services being provided are individual, public, or merit goods. for each case, state what kind of good has been described and explain your answer using the definitions of individual, public, and merit goods. (6 points each) 1. from your window, you can see a city block that's on fire. you watch city firefighters rescue people and battle the flames to save the buildings. 2. while visiting relatives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenue. 3. you see a squadron of military jets flying overhead. 4. you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satellite. 5. your class visits a local jail run by a private, profit-making company that detains county criminals and is paid with tax revenue.

You speak to a business owner that is taking in almost $2000 in revenue each month. the owner still says that they are having trouble keeping the doors open. how can that be possible? use the terms of revenue, expenses and profit/loss in your answer

Zapper has beginning equity of $257,000, net income of $51,000, dividends of $40,000 and investments by stockholders of $6,000. its ending equity is