Western Corporation, a calendar year, accrual basis corporation, reported $500,000 of net income after tax on its financial statements prepared in accordance with GAAP. The corporation’s books and records reveal the following information:• Western’s book income included $15,000 of dividends, received from a domestic corporation in which Western owns less than 1 percent of the outstanding stock.• Western’s depreciation expense per books was $55,000, and its MACRS depreciation was $70,000.• Western earned $5,000 of interest from municipal bonds and $6,000 of interest from corporate bonds.• Western’s capital losses exceeded its capital gains by $2,000.• Western’s federal income tax expense per books was $249,000.a. Compute Western’s federal taxable income and regular tax liability. b. Prepare a Schedule M-1, page 5, Form 1120, reconciling Western’s book and tax-able income.

Bakery has bought 250 pounds of muffin dough. they want to make waffles or muffins in half-dozen packs out of it. half a dozen of muffins requires 1 lb of dough and a pack of waffles uses 3/4 lb of dough. it take bakers 6 minutes to make a half-dozen of waffles and 3 minutes to make a half-dozen of muffins. their profit will be $1.50 on each pack of waffles and $2.00 on each pack of muffins. how many of each should they make to maximize profit, if they have just 20 hours to do everything?

Vincent is interested in increasing his earning potential upon completing his internship at a major accounting firm. which option can immediately boost his career in the intended direction? b. complete a certification from a professional organization c. complete a new four-year undergraduate program in a related field d. complete a two-year associate degree in a related field e. complete an online course in accounting

Variable rate cd’s = $90 treasury bills = $150 discount loans = $20 treasury notes = $100 fixed rate cds = $160 money market deposit accts. = $140 savings deposits = $90 fed funds borrowing = $40 variable rate mortgage loans $140 demand deposits = $40 primary reserves = $50 fixed rate loans = $210 fed funds lending = $50 equity capital = $120 a. develop a balance sheet from the above data. be sure to divide your balance sheet into rate-sensitive assets and liabilities as we did in class and in the examples. b. perform a standard gap analysis and a duration analysis using the above data if you have a 1.15% decrease in interest rates and an average duration of assets of 5.4 years and an average duration of liabilities of 3.8 years. c. indicate if this bank will remain solvent after the valuation changes. if so, indicate the new level of equity capital after the valuation changes. if not, indicate the amount of the shortage in equity capital.