On january 2 of the current year, otto co. purchased 40% of penn co.’s outstanding common stock. the carrying amount of penn’s depreciable assets was $1,000,000 on january 2. penn’s depreciable assets had an original useful life of 10 years, and a remaining useful life of five years. otto recognized $8,000 amortization for the current year ending december 31 related to its investment in penn due to the excess of fair value over book value on these assets. what was the fair value of penn's depreciable assets on january 2 of the current year?

1. list five staple convenience goods that you or your household buys on a regular basis. (you do not need to use complete sentences. 2.5 points) 2. list three impulse convenience goods that you or someone you know has purchased. (you do not need to use complete sentences. 2.5 points) 3. describe a shopping good that you or someone you know purchased. what kind of research did you or that person do before buying the product? (1-5 sentences. 3.0 points) 4. choose an example of a company you could start, and decide which business structure would make the most sense for that type of company (sole proprietorship, partnership, llc, c corporation, s corporation, or nonprofit corporation). explain why this structure would be good for this type of company. give at least 3 reasons. (3-6 sentences. 6.0 points) 5. if you were starting a new business, describe at least three departments to the company that you would need right away. why are these departments so important? (1-5 sentences. 3.0 points) 6. describe a product that you think has saturated its market. what makes you think it has saturated its market? (1-5 sentences. 3.0 points)