Amarillo company experienced the following events during its first accounting period. (1) purchased $5,000 of inventory on account. (2) returned $1,000 of the inventory purchased in event 1. (3) paid the remaining balance in accounts payable for the inventory purchased in event 1. (4) sold inventory purchased in event 1 for $5,000 to customers on account. at the end of the first accounting period what would be reported on the income statement for net income?

While cell phones with holographic keyboards are currently in the introduction stage of the industry life cycle, tablet computers are in the growth stage. in the context of this scenario, which of the following statements is true? a. the industry for cell phones with holographic keyboards will face greater competition than the tablet industry. b. while the industry for cell phones with holographic keyboards will focus more on product innovation, the tablet industry will focus more on process innovation. c. while the industry for cell phones with holographic keyboards can reap the benefits of economies of scale, the tablet industry will experience no such benefits. d. the industry for cell phones with holographic keyboards will face price competition, whereas, in the tablet industry, the mode of competition will be non-price.