The following information is available for Amos Company for the year ended December 31, 2017. Balance of retained earnings, December 31, 2016, prior to the discovery of the error, $866,000. Cash dividends declared and paid during 2017, $25,000. It neglected to record 2015 depreciation expense of $40,600, which is net of $7,200 in tax benefits. The company earned $216,000 in 2017 net income.

Prepare a 2017 statement of retained earnings for Amos Company

3. saving two consumers, larry and jeff, have utility functions defined over the two periods of their lives: middle age (period zero) and retirement (period 1). they have the same income in period 0 of m dollars and they will not earn income in period 1. the interest rate they face is r. larry’s and jeff’s utility functions are as follow. = 0.5 + 0.5 and = 0.5 + 0.5 for each person is between zero and one and represents each consumer’s temporal discount econ 340: intermediate microeconomics. ben van kammen: purdue university. rate. a. write the budget constraint that applies to both jeff and larry in terms of consumption in each period and ), interest rate, and m. b. what is larry’s and what is jeff’s marginal rate of intertemporal substitution? c. what is the slope of the budget constraint? d. write each consumer’s condition for lifetime utility maximization. e. re-arrange the conditions from part (d) to solve for the ratio, . f. if > which consumer will save more of his middle age income? g. if > 1 1+ , in which period will larry consume more: = 0 or = 1?