Shelby Corporation was organized in January to operate an air-conditioning sales and service business. The charter issued by the state authorized the following capital stock: Common stock, $1 par value, 200,000 shares.
Preferred stock, $10 par value, 6 percent, 50,000 shares.

During January and February, the following stock transactions were completed:

a. Collected $324,000 cash and issued 18,000 shares of common stock.
b. Issued 14,000 shares of preferred stock at $28 per share; collected in cash

Net income for the year was $59,000; cash dividends declared and paid at year-end were $10,000.

Required:
Prepare the stockholders' equity section Of the balance sheet at December 31.

Which of the following statements accurately describes how costs and benefits are calculated?

Assume that the governance committee states that all projects costing more than $70,000 must be reviewed and approved by the chief information officer and the it senior leadership team (slt). at this point, the cio has the responsibility to ensure that management processes observe the governance rules. for example, the project team might present the proposed project in an slt meeting for a vote of approval. what does this scenario illustrate about organizational structure?

In year 1, the bennetts' 25-year-old daughter, jane, is a full-time student at an out-of-state university but she plans to return home after the school year ends. in previous years, jane has never worked and her parents have always been able to claim her as a dependent. in year 1, a kind neighbor offers to pay for all of jane's educational and living expenses. which of the following statements is most accurate regarding whether jane's parents would be allowed to claim an exemption for jane in year 1 assuming the neighbor pays for all of jane's support? a.no, jane must include her neighbor's gift as income and thus fails the gross income test for a qualifying relative.b.yes, because she is a full-time student and does not provide more than half of her own support, jane is considered her parent's qualifying child.c.no, jane is too old to be considered a qualifying child and fails the support test of a qualifying relative.d.yes, because she is a student, her absence is considered as "temporary." consequently she meets the residence test and is a considered a qualifying child of the bennetts.