The transactions listed below relate to Wainwright Inc. You are to assume that on the date on which each of the transactions occurred, the corporation's accounts showed only common stock $($ $$100$ par$)$ outstanding, a current ratio of $2\mathrm{.}7$:$1,$ and a substantial net income for the year to date $($before giving effect to the transaction concerned$).$ On that date, the book value per share of stock was $$151\mathrm{.}53.$

Each numbered transaction is to be considered completely independent of the others, and its related answer should be based on the

effect$($s$)$ of that transaction alone. Assume that all numbered transactions occurred during $2026$ and that the amount involved in each

case is sufficiently material to distort reported net income if improperly included in the determination of net income. Assume further

that each transaction was recorded in accordance with generally accepted accounting principles and, where applicable, in conformity

with the all$-$inclusive concept of the income statement.

Select as many options as you deem appropriate to reflect the effect$($s$)$ of each transaction as of the date of the transaction.

Part $1$

In January, the board directed the write$-$off of certain patent rights that had suddenly and unexpectedly become worthless.

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