Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. The discussion involves the following 2020 information related to Bramble Company ($000 omitted). Administrative expense $
Officers' salaries $5,006
Depreciation of office furniture and equipment 4,066
Cost of goods sold 60,676
Rent revenue 17,336
Selling expense
Delivery expense 2,796
Sales commissions 8,086
Depreciation of sales equipment 6,586
Sales revenue 96,606
Income tax 9,176
Interest expense 1,966
(a) Prepare income statement for the year 2020 using the mutiple-step form. Common shares outstanding for 2020 total 38,960 (000 omitted).
(b) Prepare an income statement for the year 2020 using the single-step form.

You are head of the schwartz family endowment for the arts. you have decided to fund an arts school in the san francisco bay area in perpetuity. every 5 years, you will give the school $ 1 comma 000 comma 000. the first payment will occur 5 years from today. if the interest rate is 5.9 % per year, what is the present value of your gift?

Consider the scenario below and let us know if you believe lauren smith's actions to be ethical. let us know why or why not. lauren smith is the controller for sports central, a chain of sporting goods stores. she has been asked to recommend a site for a new store. lauren has an uncle who owns a shopping plaza in the area of town where the new store is to be located, so she decides to contact her uncle about leasing space in his plaza. lauren also contacted several other shopping plazas and malls, but her uncle’s store turned out to be the most economical place to lease. therefore, lauren recommended locating the new store in her uncle’s shopping plaza. in making her recommendation to management, she did not disclose that her uncle owns the shopping plaza. if management decided to go with lauren's uncle's plaza, what additional information would be needed in the financial statements?

Acoase solution to a problem of externality ensures that a socially efficient outcome is to