Exhibit 52
Use the Information Below for the Following Problem(S)

question 39

Multiple Choice

Exhibit 5.2
Use the Information Below for the Following Problem(S)
$\begin{array}{lcccccc} ~&&\text { Stock Price } &&& \text { \# Shares } \\ & \mathbf{X} & \mathbf{Y} & \mathbf{Z} & \mathbf{X} & \mathbf{Y} & \mathbf{Z} \\ \text { Jan. } 13,2005 & 20 & 40 & 30 & 1000 & 2000 & 1000^{*} \\\text { Jan. } 14,2005 & 25 & 42 & 18 & 1000 & 2000 & 2000 \\\text { Jan. } 15,2005 & 27 & 45 & 8 & 1000^{* *} & 2000 & 2000 \\\text { Jan. } 16,2005 & 20 & 40 & 10 & 3000 & 2000 & 2000\end{array}$
*2:1 Split on Stock Z after Close on Jan. 13, 2005
**3:1 Split on Stock X after Close on Jan. 15, 2005
The base date for index calculations is January 13, 2005
-Refer to Exhibit 5.2.What is the divisor at the beginning of January 14th?

• A) 3.0
• B) 2.5
• C) 2.2734
• D) 1.9375
• E) None of the above

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Definitions:

Federal Unemployment Taxes

Taxes paid by employers to the federal government to fund unemployment benefits and job service programs.

Insurance Pension Plans

Retirement plans that combine the benefits of insurance and savings, providing income after retirement through periodic premiums paid during a worker’s employment.

Salaries And Wages Payable

A liability account that represents the amounts owed to employees for work performed but not yet paid.

Medical Insurance Deductions

Amounts subtracted from an employee's gross pay for health insurance premiums, often part of an employer-sponsored health plan.