$2,000,000 of required capital is funded as follows: 95% ($1.900,000) by the investors (Limited Partners) and 5% ($100,000) by the operating (General) Partner. The agreement provides that available cash flow follows a promote (carried interest) waterfall structure and is distributed as follows: 1. 8% annual preferred return payable to all partners on their equity contributed 2. Return of capital contributed 3. Remaining available cash flow distributed 80% to investors (Limited Partners) and 20% to the operating (General) partner There is no cash flow available until the sale of the investment to distribute any cash. At the end of 1 year, the investment is sold and $2,080,000 is available for distribution to the limited and general partners. a. What is the total $ amount of preferred return payable to ALL of the partners (Limited and General)

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.