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You have identified a novel eukaryotic parasite whose genome is triploid (ploidy = 3) and contains a haploid number of 4. What is the total number chromosomes in a somatic cell from this parasite?

You are interested in studying a gene called pumper that is important for heart function. The pumper gene is only expressed (transcribed) in heart cells, and you think the reason for this may have to do with chromatin structure. To investigate this, you isolate chromatin from heart cells and skin cells, and perform a long digestion of both samples with DNAse I, a non-sequence specific enzyme that will cut the phosphodiester bonds linking adjacent nucleotides. You then remove all proteins and analyze the DNA by gel-electrophoresis. You are able to detect only the DNA fragments that contain the pumper gene. The bands at the top of lane 2 indicate very large DNA fragments that were not able to migrate very far in the gel. The numbers to the left indicate where in the gel DNA fragments of the indicated size would migrate. Based on this data, which of the following is likely to be FALSE regarding the pumper locus in heart cells? (select all that apply)

Q17. An S-corp takes on a large nonrecourse bank loan for which the shareholder is not personally liable. Separately, the shareholder makes a $20,000 direct loan to the corporation. Which transaction increases the shareholder’s at-risk amount? A. Entity-level borrowing B. Direct shareholder loans C. Nonrecourse liabilities D. Accounts payable

Day-Brite, Inc currently pays a $2.75 dividend and its current stock price is $27.80. Assuming the company’s cost of equity capital is 5% use the dividend discount valuation model to estimate the company’s growth rate.

Q25. An S-corp distributes appreciated property with FMV $130,000 and basis $70,000. The corporation has no E&P. Focusing only on the gain recognition, how does this gain affect AAA? A. Increase by $60,000 B. Increase by $130,000 C. Decrease by $70,000 D. No effect

The fiscal year-end 2016 financial statements for Walt Disney Co. report revenues of $85,632 million, net operating profit after tax of $12,954 million, net operating assets of $55,603 million. The fiscal year-end 2015 balance sheet reports net operating assets of $57,079 million.         Walt Disney’s 2016 net operating profit margin is:

Q31. In a complete liquidation of an S-corp, a shareholder determines gain or loss by comparing the FMV of property received to which amount? A. Stock basis B. AAA balance C. E&P balance D. Corporate basis

Liabilities are recorded in the balance sheet in what order:

Q15. An S-corp with positive AAA pays $25,000 cash distributions and has sufficient shareholder basis. Which item simultaneously reduces both AAA (to the extent of AAA) and the shareholder’s stock basis? A. Distributions B. Nondeductible penalties C. Tax-exempt income D. Section 179 deduction