The Financial Statements for Goodwin, Inc On December 31, 2013, Goodwin Issued $600 in Debt and the Year

question 55

Multiple Choice

The financial statements for Goodwin, Inc. and Corr Company for the year ended December 31, 2013, prior to Goodwin's acquisition business combination transaction regarding Corr, follow (in thousands) : $\begin{array}{lrr}&\text { Goodwin } &\text { Corr }\\\text { Revenues } & \$ 2,700 & \$ 600 \\\text { Expenses } & \underline{1.980} & \underline{400} \\\text { Net income } & \$ 720 & \$ 200\\\\\text { Retained earnings } 1 / 1 & \$ 2,400 & \$ 400 \\\text { Net income } & 720 & 200 \\\text { Dividends } & (270) & (0) \\\text { Retained earnings, } 12 / 31&\$2,850&\$600\\\\\text { Cash } & {\$ 240} & \$ 220 \\\text { Receivables and inventory } & 1,200 & 340 \\\text { Buildings (net) } & 2,700 & 600 \\\text { Equipment (net) } & \underline{2,100} & \underline{1,200} \\\quad \text { Total assets } & \${\underline{\underline{6,240}}} & \$ \underline{\underline{2,360}}\\\\\text { Liabilities } & \$ 1,500 & \$ 820 \\\text { Common stock } & 1,080 & 400 \\\text { Additional paid-in capital } & 810 & 540 \\\text { Retained earnings } & 2,850 & 600 \\\quad \text { Total liabilities \& stockholders' equity } & \$ \underline{6,240} & \$ {\underline{6,360}}\end{array}$ On December 31, 2013, Goodwin issued $600 in debt and 30 shares of its $10 par value common stock to the owners of Corr to acquire all of the outstanding shares of that company. Goodwin shares had a fair value of $40 per share. Goodwin paid $25 to a broker for arranging the transaction. Goodwin paid $35 in stock issuance costs. Corr's equipment was actually worth $1,400 but its buildings were only valued at $560.
Compute the consolidated revenues for 2013.

• A)$2,700.
• B)$720.
• C)$920.
• D)$3,300.
• E)$1,540.

Understand the different justifications for punishment used within the criminal justice system.

Comprehend the concept of deviance as a social and moral judgment.

Recognize the relativity of deviance across historical and cultural contexts.

Analyze the impact of power dynamics and societal changes on perceptions of deviance.

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