Because of its quality investments, carolina corporation has always generated 30% to 40% of its gross income from passive sources. in the current year, carolina sold a block of stock in a company it acquired several years ago. as a result of the sale, the corporation realized a substantial long-term capital gain that will increase this year's investment income from 40% to 70% of gross income. explain to carolina's president why she should or should not be worried about the personal holding company tax.

The following accounts appeared in recent financial statements of delta air lines. identify each account as either a balance sheet account or an income statement account. for each balance sheet account, identify it as an asset, a liability, or stockholders' equity. for each income statement account, identify it as a revenue or an expense. item financial statement type of account accounts payable balance sheet advanced payments for equipment balance sheet air traffic liability balance sheet aircraft fuel (expense) income statement aircraft maintenance (expense) income statement aircraft rent (expense) income statement cargo revenue income statement cash balance sheet contract carrier arrangements (expense) income statement flight equipment balance sheet frequent flyer (obligations) balance sheet fuel inventory balance sheet landing fees (expense) income statement parts and supplies inventories balance sheet passenger commissions (expense) income statement passenger revenue income statement prepaid expenses income statement taxes payable balance sheet

Azster inc. recorded sales revenue for the year that ended december 31, 2014 as $67,000. interest revenue of $5,300 and expenses of $14,000 were also recorded for the same period. what is aster’s net profit or loss?

Monica needs to assess the slide sequence and make quick changes to it. which view should she use in her presentation program? a. outline b. slide show c. slide sorter d. notes page e. handout