Koufax Materials Corporation produces plastic products for home appliances and electronics. The financial department has produced the following information for the year ended December 31. Administrative salaries$2,625,000 Depreciation on the administrative building 1,142,000 Depreciation on the manufacturing plant 1,750,000 Direct labor 4,692,500 Direct materials inventory, January 1 1,069,200 Direct materials inventory, December 31 1,235,000 Direct materials purchased during the year 8,956,000 Distribution costs 657,000 Finished goods inventory, January 1 1,642,000 Finished goods inventory, December 31 1,369,500 Indirect labor 542,000 Insurance (on manufacturing plant) 53,200 Legal fees 496,300 Maintenance (on the manufacturing plant) 215,400 Manufacturing plant utiities 784,100 Marketing costs 749,250 Other manufacturing plant costs 630,880 Sales revenue 22,654,920 Taxes (on manufacturing plant and property) 215,600 Work-in-process inventory, January 1 403,250 Work-in-process inventory, December 31 396,700

Emily sold the following investments during the year: stock date purchased date sold sales price cost basis a. 1,000 shares dot com co. 03-21-2007 02-04-2018 $20,000 $5,000 b. 500 shares big box store 05-19-2017 01-22-2018 $8,200 $7,500 c. 300 shares lotta fun, inc. 10-02-2017 09-21-2018 $3,000 $4,500 d. 700 shares local gas co. 06-17-2017 11-11-2018 $14,000 $17,000 for each stock, calculate the amount and the nature of the gain or loss.

Responsible for setting the goals and planning for the future as well as leading and controlling the work of others. out the decisions of top management. often responsible for various departments such as the production, marketing, and accounting departments. process or function of planning organizing leading and controlling. the resources arranged in an orderly and functional way to accomplish goals and objectives. the company on track and making sure goals are met. for the daily operations of a business. examples of this are supervisors, office managers, and crew leaders. act or process of creating goals and objectives as well as the strategies to meet them. for the daily operations of a business. examples of this are supervisors, office managers, and crew leaders. how the firm is structured and who is in charge of whom. direction and vision

9. tax types: taxes are classified based on whether they are applied directly to income, called direct taxes, or to some other measurable performance characteristic of the firm, called indirect taxes. identify each of the following as a “direct tax,” an “indirect tax,” or something else: a. corporate income tax paid by a japanese subsidiary on its operating income b. royalties paid to saudi arabia for oil extracted and shipped to world markets c. interest received by a u. s. parent on bank deposits held in london d. interest received by a u. s. parent on a loan to a subsidiary in mexico e. principal repayment received by u. s. parent from belgium on a loan to a wholly owned subsidiary in belgium f. excise tax paid on cigarettes manufactured and sold within the united states g. property taxes paid on the corporate headquarters building in seattle h. a direct contribution to the international committee of the red cross for refugee relief i. deferred income tax, shown as a deduction on the u. s. parent’s consolidated income tax j. withholding taxes withheld by germany on dividends paid to a united kingdom parent corporation