The balance sheet of FIFA Cup Company included the following shareholders' equity section at December 31, 2021: ($ in millions) Common stock ($1 par, authorized 200 million shares, issued and outstanding 180 million shares) $ 180 Paid-in capital—excess of par 1,080 Retained earnings 560 Total shareholders’ equity $ 1,820 On January 5, 2022, FIFA purchased and retired 2 million shares for $18 million. Immediately after retirement of the shares, the balances in the paid-in capital—excess of par and retained earnings accounts are:` Paid-in capital—excess of par Retained earnings a. $ 1,068 $ 556 b. $ 1,064 $ 560 c. $ 1,080 $ 560 d. $ 1,080 $ 542

The gomez company, a merchandising firm, has budgeted its activity for december according to the following information: • sales at $500,000, all for cash. • merchandise inventory on november 30 was $250,000. • the cash balance at december 1 was $20,000. • selling and administrative expenses are budgeted at $50,000 for december and are paid for in cash. • budgeted depreciation for december is $30,000. • the planned merchandise inventory on december 31 is $260,000. • the cost of goods sold represents 75% of the selling price. • all purchases are paid for in cash. the budgeted cash disbursements for december are:

In december of 2004, the company you own entered into a 20-year contract with a grain supplier for daily deliveries of grain to its hot dog bun manufacturing facility. the contract called for "10,000 pounds of grain" to be delivered to the facility at the price of $100,000 per day. until february 2017, the supplier provided processed grain which could easily be used in your manufacturing process. however, no longer wanting to absorb the cost of having the grain processed, the supplier began delivering whole grain. the supplier is arguing that the contract does not specify the type of grain that would be supplied and that it has not breached the contract. your company is arguing that the supplier has an onsite processing plant and processed grain was implicit to the terms of the contract. over the remaining term of the contract, reshipping and having the grain processed would cost your company approximately $10,000,000, opposed to a cost of around $1,000,000 to the supplier. after speaking with in-house counsel, it was estimated that litigation would cost the company several million dollars and last for years. weighing the costs of litigation, along with possible ambiguity in the contract, what are three options you could take to resolve the dispute? which would be the best option for your business and why?

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