Exhibit 15

question 90

Multiple Choice

Exhibit 1.5.1 The following financial statements are to be used to answer the following questions:

-Refer to Exhibit 1.5-1. What is the ending retained earnings balance as of December 31, 2012?

• A) $30,000
• B) $45,000
• C) $758,000
• D) $452,000

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Definitions:

Consolidation Worksheet

A tool used in preparation of consolidated financial statements that helps combine the financials of a parent company and its subsidiaries.

Goodwill

An intangible asset on a company's balance sheet representing the premium paid over the book value of the assets acquired in a merger or acquisition.

Undervalued Equipment

Equipment or assets that are appraised or recorded on financial statements at a value less than their true market value.

Outstanding Voting

Refers to the shares of a corporation that are issued and held by shareholders, including those with voting rights.