Lucy and ricky ricardo are married and live in the upper east side of new york. ricky, 53, is a singer/bandleader and lucy is an aspiring singer/actress (basically she wants to do anything that involves performing). they both live at home full-time. you will be preparing their income tax return for 2019. they will file married filing jointly and have one dependent (little ricky). their household income in 2019 is expected to be $90,000 and they expect it to be the same next year. lucy has not worked in 2019 and does not plan to work for the remainder of the year, such that ricky’s self-employment (schedule c) earnings represents the entire household income. in october of 2019, you called lucy and ricky to find out if they have questions about year-end tax planning. the following independent scenarios pertain to transactions they engaged in this tax year (2019), unless otherwise indicated:

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)