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Question 1: Joy purchased a home in Maine on December 15, 2000 for $25,000 and lived in it full-time until she purchased a second home in Florida on October 1, 2014 for $380,000. In 2014 and 2015 she continued to have her primary residence in Maine. On October 1, 2016, however, she changed her primary residence to Florida. She needs to sell one of these homes before the end of 2019 as she needs cash for an investment opportunity. If she expects a maximum gain if $20,000 on either home, which home do you recommend she sell ?
Financial Statement Analysis and Preparation
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