The financial records of Marin Inc. were destroyed by fire at the end of 2017. Fortunately, the controller had kept certain statistical data related to the income statement as follows.
1. The beginning merchandise inventory was $90,900 and decreased 20% during the current year.
2. Sales discounts amount to $25,900.
3. 30,420 shares of common stock were outstanding for the entire year.
4. Interest expense was $25,300.
5. The income tax rate is 30%.
6. Cost of goods sold amounts to $517,400.
7. Administrative expenses are 20% of cost of goods sold but only 8% of gross sales.
8. Four-fifths of the operating expenses relate to sales activities.
Required:
1. From the foregoing information prepare an income statement for the year 2017 in single-step form.

Assume that the governance committee states that all projects costing more than $70,000 must be reviewed and approved by the chief information officer and the it senior leadership team (slt). at this point, the cio has the responsibility to ensure that management processes observe the governance rules. for example, the project team might present the proposed project in an slt meeting for a vote of approval. what does this scenario illustrate about organizational structure?

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

The rybczynski theorem describes: (a) how commodity price changes influence real factor rewards (b) how commodity price changes influence relative factor rewards. (c) how changes in factor endowments cause changes in commodity outputs. (d) how trade leads to factor price equalization.