Porter Corporation's capital structure consists of 50,000 shares of common stock. At December 31, 2017 an analysis of the accounts and discussions with company officials revealed the following information: Sales revenue Discontinued operations loss (net of tax) 63,000 Selling expenses 128,000 Cash 60,000 Accounts receivable 90,000 Common stock 200,000 Cost of goods sold 700,000 Accumulated depreciation-machinery 180,000 Dividend revenue 8,000 Unearned service revenue 4,400 Interest payable 1 ,ooo Land 370,000 Patents 100,000 Retained earnings, January 1, 2017 270,000 Interest expense 17,000 Administrative expenses 170,000 Dividends declared 24,000 Allowance for doubtful accounts 5,000 Notes payable (maturity 7/1/20) 200,000 Machinery 450,000 Materials 40,000 Accounts payable 60,000 The amount of income taxes applicable to income was $72,900, excluding the tax effect of the discontinued operations loss which amounted to $27,000. Instructions (a) Prepare a multiple-step income statement. (b) Prepare a retained earnings statement.

New team of management has taken over. as a result, organizational changes from a country-club style leadership where everyone does whatever they want has changed to a more mechanistic, structured, top-down management style. what ethical issues should the employees consider and how should they go about addressing these?

You are the manager in charge of global operations at bankglobal – a large commercial bank that operates in a number of countries around the world. you must decide whether or not to launch a new advertising campaign in the u.s. market. your accounting department has provided the accompanying statement, which summarizes the financial impact of the advertising campaign on u.s. operations. in addition, you recently received a call from a colleague in charge of foreign operations, and she indicated that her unit would lose $8 million if the u.s. advertising campaign were launched. your goal is to maximize bankglobal’s value. should you launch the new campaign? explain. pre-advertising campaign post-advertising campaign total revenues $18,610,900 $31,980,200 variable cost tv airtime 5,750,350 8,610,400 ad development labor 1,960,580 3,102,450 total variable costs 7,710,930 11,712,850 direct fixed cost depreciation – computer equipment 1,500,000 1,500,000 total direct fixed cost 1,500,000 1,500,000 indirect fixed cost managerial salaries 8,458,100 8,458,100 office supplies 2,003,500 2,003,500 total indirect fixed cost $10,461,600 $10,461,600

Which term best fits the sentence? is the process of reasoning, analyzing, and making important decisions. it’s an important skill in making career decisions. a. critical thinking b. weighing pros and cons c. goal setting