During its first year of operations, Crane Corporation had the following transactions pertaining to its common stock. Jan. 10 Issued 80,300 shares for cash at $6 per share. Mar. 1 July 1 Sept. 1 Date Jan. 10 Mar. 1 July 1 Sept. 1 Issued 5,000 shares to attorneys in payment of a bill for $37,200 for services rendered in helping the company to incorporate. Issued 31,300 shares for cash at $8 per share. Issued 64,600 shares for cash at $10 per share. Account Titles and Explanation Cash Common Stock Paid-in Capital in Excess of Par - Common Stock Common Stock Paid-in Capital in Excess of Par - Common Stock Cash Common Stock Paid-in Capital in Excess of Par - Common Stock Cash Common Stock Paid-in Capital in Excess of Par - Common Stock Debit 481,800 Credit

d. If the employees are not covered, what is the maximum amount Ken can contribute for himself? Only 25% of employee earnings Lesser of $61,000 or 25% of employee earnings Greater of $61,000 or 25% of employee earnings Only 25% of employee earnings Only $61,000 e. If Ken is required to contribute for his employees and chooses to contribute the maximum amount, what is the maximum amount Ken can contribute for himself? (Hint: Calculate the employee amounts first.) Ignore any changes in Ken's self-employment tax. Maximum contribution $ 0

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ion Given r and t greater than zero: I. Present value interest factors are less than one. II. Future value interest factors are less than one. III. Present value interest factors are greater than future value interest factors. IV. Present value interest factors grow as t grows, provided r is held constant. Select one: O a. II and Ill only Ob. II and IV only O c. I and III only O d. I only Oe. I and IV only

25.The current ratio is an example of a Liquidity ratio Group of answer choices True False 26.