Georgio owns a 20 percent profits and capital interest in Rain Tree LLC. For the current year, Rain Tree had the following revenues, expenses, gains, and losses: Sales revenue $70,000
Gain on sale of land ($1231) $11,000
Cost of goods sold $26,000
Depreciation - MACRS $3,000
5179 deduction* $10,000
Employee wages $11,000
Fines and penalties $3,000
Municipal bond interest $6,000
Short-term capital gains $4,000
Guaranteed payment to Sandra $3,000

*Assume the $179 property placed in service limitation does not apply.

Requried:
a. How much ordinary business income (loss) is allocated to Georgio for the year?
b. What are Georgio's separately stated items for the year?

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Larissa has also provided the following information. during the year, the company raised $36 million in new long-term debt and retired $20.52 million in long-term debt. the company also sold $22 million in new stock and repurchased $32.4 million. the company purchased $54 million in fixed assets, and sold $6,107,400 in fixed assets. larissa has asked dan to prepare the financial statement of cash flows and the accounting statement of cash flows. she has also asked you to answer the following questions: 1. how would you describe east coast yachts' cash flows? 2. which cash flows statement more accurately describes the cash flows at the company? 3. in light of your previous answers, comment on larissa's expansion plans.

When cell phones were first entering the market, they were relatively large and reception was undependable. all cell phones were essentially the same. but as the technology developed, many competitors entered, introducing features unique to their phones. today, cell phones are only a small fraction of the size and weight of their predecessors. consumers can buy cell phones with color screens, cameras, internet access, daily planners, or voice activation (and any combination of these features). the history of the cell phone demonstrates what marketing trend?