You construct a bear spread by selling a 6-month put option with a $25 strike price for $2.50 and buying a 6-month put option with a $29 strike price for $4.50. Compute the spread profit (including the cost) when the stock price in 6 months becomes (a) $23, (b) $26, and (c) $33.

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: