You are a student and have an on-site job interview with Company A. Just before you fly to the interview, you get a call from Company B asking you to come for an on-site interview at their offices in the same city. When you inform them of your interview with Company A, they suggest you stop in after that. Company A has already paid for your airfare and, at the conclusion of your interview with them, issues you reimbursement forms for the balance of your trip expenses with instructions to file for all your trip expenses. When you inform them of your added interview stop at Company B, they tell you to go ahead and charge the entire cost of the trip to Company A. You interview with Company B, and at the conclusion, they give you travel reimbursement forms with instructions to file for all your trip expenses. When you inform them of the instructions of Company A, they tell you that the only expenses requiring receipts are airfare and hotel rooms, so you should still file for all the other expenses with them even if Company A is paying for it because students always need a little spending money. What should you do

What does the phrase limited liability mean in a corporate context?

Adisadvantage of corporations is that shareholders have to pay on profits.

Selected information about income statement accounts for the reed company is presented below (the company's fiscal year ends on december 31): 2018 2017sales $ 4,400,000 $ 3,500,000cost of goods sold 2,860,000 2,000,000administrative expenses 800,000 675,000selling expenses 360,000 312,000interest revenue 150,000 140,000interest expense 200,000 200,000loss on sale of assets of discontinued component 50,000 —on july 1, 2018, the company adopted a plan to discontinue a division that qualifies as a component of an entity as defined by gaap. the assets of the component were sold on september 30, 2018, for $50,000 less than their book value. results of operations for the component (included in the above account balances) were as follows: 1/1/18-9/30/18 2017 sales $ 400,000 $ 500,000 cost of goods sold (290,000 ) (320,000 )administrative expenses (50,000 ) (40,000 )selling expenses (20,000 ) (30,000 )operating income before taxes $ 40,000 $ 110,000 in addition to the account balances above, several events occurred during 2018 that have not yet been reflected in the above accounts: a fire caused $50,000 in uninsured damages to the main office building. the fire was considered to be an infrequent but not unusual event. inventory that had cost $40,000 had become obsolete because a competitor introduced a better product. the inventory was sold as scrap for $5,000.income taxes have not yet been recorded. required: prepare a multiple-step income statement for the reed company for 2018, showing 2017 information in comparative format, including income taxes computed at 40% and eps disclosures assuming 300,000 shares of common stock. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)