Dexter owns a large tract of land and subdivides it for sale. assume that dexter meets all of the requirements of § 1237 and during the tax year sells the first eight lots to eight different buyers for $113,000 each. dexter's basis in each lot sold is $79,100, and he incurs total selling expenses of $4,520 on each sale. what is the amount of dexter’s capital gain and ordinary income?

Sharon had some insider information about a corporate takeover. she unintentionally informed a friend, who immediately bought the stock in the target corporation. the takeover occurred and the friend made a substantial profit from buying and selling the stock. the friend told sharon about his stock dealings, and gave her a pearl necklace because she "made it all possible." the necklace was worth $10,000, but she already owned more jewelry than she desired.

Calculate riverside’s financial ratios for 2014. assume that riverside had $1,000,000 in lease payments and $1,400,000 in debt principal repayments in 2014. (hint: use the book discussion to identify the applicable ratios.)

What are consequences of rapid inflation? (select all that apply.) savings accounts become less desirable because interest earned is lower than inflation individual purchasing power increases, which results in an increase in demand. individual purchasing power decreases, which results in a decrease in demand. people postpone purchasing expensive items, such as homes, until prices drop.