For a recent year, the balance sheet for the campbell soup company (cpb) includes accrued expenses of $604 million. the income before taxes for campbell for the year was $849 million. a. assume the adjusting entry for $604 million of accrued expenses was not recorded at the end of the year. by how much would income before taxes have been misstated? $ million b. what is the percentage of the misstatement in (a) to the reported income of $849 million? round to one decimal place. %

The master manufacturing company has just announced a tender offer for its own common stock. master is offering to buy up to 100% of the company's stock at $20 per share contingent on at least 64% of the outstanding shares being tendered. after the announcement of the offer, the stock closed on the nyse up 2.50 at $18.75. a customer has 100 shares of master stock in his cash account. the customer tells you that he wishes to "cash out" his position. you should recommend that the customer: