During the taking of its physical inventory on december 31, barry's bike shop incorrectly counted its inventory as $350,000 instead of the correct amount of $280,000. the effect on the balance sheet and income statement would be
a. assets overstated by $70,000; retained earnings understated by $70,000; and net income statement understated by $70,000.
b. assets and retained earnings overstated by $70,000 and net income understated by $70,000.
c. assets overstated by $70,000; retained earnings understated by $70,000; and no effect on the income statement.
d. assets, retained earnings, and net income all overstated by $70,000.

According to the law of demand, there is an inverse relationship between price and quantity demanded. that is, the demand curve for goods and services slopes downward. why?

Nellie lumpkin, who suffered from dementia, was admitted to the picayune convalescent center, a nursing home. because of her mental condition, her daughter, beverly mcdaniel, signed the admissions agreement. it included a clause requiring the par- ties to submit any dispute to arbitration. after lumpkin left the center two years later, she filed a suit against picayune to recover damages for mistreatment and malpractice. [covenant health & rehabilitation of picayune, lp v. lumpkin, 23 so.2d 1092 (miss. app. 2009)] (see page 91.) 1. is it ethical for this dispute—involving negligent medical care, not a breach of a commercial contract—to be forced into arbitration? why or why not? discuss whether medical facilities should be able to impose arbitration when there is generally no bargaining over such terms.

How long have u been on dis website