Justin and Lauren are equal partners in the PJenn Partnership. The partners formed the partnership seven years ago by contributing cash. Prior to any distributions, the partners have the following bases in their partnership interests: (Leave no answer blank. Enter zero if applicable.) Partner Outside Basis
Justin $23,400
Lauren $23,400

On December 31 of the current year, the partnership makes a pro rata operating distribution of:

Partner Distribution
Justin Cash $26,800
Lauren Cash $19,200
Property $7,600 (FMV) ($2,440 basis to partnership)

Required:
a. What is the amount and character of Justin's recognized gain or loss?
b. What is Justin's remaining basis in his partnership interest?
c. What is the amount and character of Lauren's recognized gain or loss?

Consider the following condensed financial statements of money freedom comma inc. the company's target rate of return is 30%: (click the icon to view the comparative balance sheet.) (click the icon to view the income statement.) requirements 1. calculate the company's roi. round all of your answers to four decimal places. 2. calculate the company's profit margin ratio. interpret your results. 3. calculate the company's asset turnover ratio. interpret your results. 4. use the expanded roi formula to confirm your results from requirement 1. interpret your results. 5. calculate the company's ri. interpret your results. requirement 1. calculate the company's roi. round all of your answers to four decimal places. begin by selecting the formula to calculate return on investment (roi), and then enter the amounts to calculate the company's roi. (round your calculations to four decimal places and enter your answer as a percent, x.xx%)