On January 1, 2020, Alison, Inc., paid $72,000 for a 40 percent interest in Holister Corporation’s common stock. This investee had assets with a book value of $260,500 and liabilities of $115,500. A patent held by Holister having a $10,200 book value was actually worth $23,700. This patent had a six-year remaining life. Any further excess cost associated with this acquisition was attributed to goodwill. During 2020, Holister earned income of $39,000 and declared and paid dividends of $13,000. In 2021, it had income of $61,500 and dividends of $18,000. During 2021, the fair value of Allison’s investment in Holister had risen from $84,500 to $92,700. Required:
a. Assuming Alison uses the equity method, what balance should appear in the Investment in Holister account as of December 31, 2021?
b. Assuming Alison uses fair-value accounting, what income from the investment in Holister should be reported for 2021?

About time delivery co. incurred the following costs related to trucks and vans used in operating its delivery service: classify each of the costs as a capital expenditure or a revenue expenditure. 1. changed the oil and greased the joints of all the trucks and vans. 2. changed the radiator fluid on a truck that had been in service for the past four years. 3. installed a hydraulic lift to a van. 4. installed security systems on four of the newer trucks. 5. overhaul the engine on one of the trucks purchased three years ago. 6. rebuilt the transmission on one of the vans that had been driven 40,000 miles. the van was no longer under warranty. 7. removed a two-way radio from one of the trucks and installed a new radio with a greater range of communication. 8. repaired a flat tire on one of the vans. 9. replaced a truck's suspension system with a new suspension system that allows for the delivery of heavier loads. 10. tinted the back and side windows of one of the vans to discourage theft of contents.

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.

Interpreting the income tax expense footnote the income tax footnote to the financial statements of fedex corporation follows. the components of the provision for income taxes for the years ended may 31 were as follows: ($ millions) 2010 2009 2008 current provision domestic federal $ 36 $ (35) $ 514 state and local 54 18 74 foreign 207 214 242 297 197 830 deferred provisions (benefit) domestic federal 408 327 31 state and local 15 48 (2) foreign (10) 7 32 413 382 61 provision for income taxes $ 710 $ 579 $ 891 (a)what is the amount of income tax expense reported in fedex's 2010, 2009, and 2008 income statements?