1. A 10 year operating lease was granted to XYZ Corporation with a four months free rent The lease is effective April 1, 2017. Monthly rental is P50,000. What amount of rent expense should be reported in the December 31, 2017 Income Statement of XYZ
2. Voting Rights-After successfully completing your corporate finance class, you feel the next challenge ahead is to serve on the board of directors of Schenkel Enterprises. Unfortunately, you will be the only person voting for you. If Schenkel has 350,000 shares outstanding, and the stock currently sells for $35, how much will it cost you to buy a seat if the company uses straight voting? (Do not round intermediate calculations.) Total cost