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Maxson Products distributes a single product, a woven basket whose selling price is $8 and whose variable cost is $6 per unit. The company's monthly fixed expense is $5,500.
Required:1. Solve for the company's break-even point in unit sales using the equation method.2. Solve for the company's break-even point in sales dollars using the equation method and the CM ratio.3. Solve for the company's break-even point in unit sales using the formula method.4. Solve for the company's break-even point in sales dollars using formula method and the CM ratio.
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Albert tranfers land (basis of $140,000 and fair market value of $320,000) to Gold Corporation for 80% of its stock and a note payable in the amount of $80,000. Gold assumes Albert's mortgage on the land of $200,000.
Prepare a correct trial balance. (If answer is zero, please enter 0, do not leave any fields blank.)
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