On december 23, 2016, miller wholesalers ships merchandise to michael retailers with terms of fob destination point. the merchandise arrives at michael’s warehouse on january 3, 2017. required 1. identify who pays to ship the merchandise. 2. determine whether the inventory should be included as an asset on michael’s december 31, 2016, balance sheet. should the sale be included on miller’s 2016 income statement? explain. 3. explain how your answers to part (2) would have been different if the terms of shipment had been fob shipping point.

Juanita and sam attend a beach party and notice that the local beach appears to have a great deal more trash washed up on shore than it did when they were young. the water doesn't appear nearly as clear, and there seems to be less evidence of small water creatures living in the shallows. an afternoon at the local library convinces them that one major cause is the new factory nearby. after some discussion, they decide their next step should be identifying the cause of the changes identifying the problem picketing the guilty factory lobbying their elected representatives to complain about the problem talking to a local environmental group about solutions