Sweet Catering completed the following selected transactions during May 2016: May 1: Prepaid rent for three months, $2,100 May 5: Received and paid electricity bill, $70 • May 9: Received cash for meals served to customers, $3,410 May 14: Paid cash for kitchen equipment, $3,790 May 23: Served a banquet on account, $2,870 May 31: Made the adjusting entry for rent (from May 1). May 31: Accrued salary expense, $300 May 31: Recorded depreciation for May on kitchen equipment, $270 O If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May? If there parentheses or a negative sign.

scenario: hawaii and south carolina are trading partners. hawaii has an absolute advantage in the production of both coffee and tea. the opportunity cost of producing 1 pound of tea in hawaii is 2 pounds of coffee, and the opportunity cost of producing 1 pound of tea in south carolina is 1/3 pound of coffee. which of the following statements is true? a. south carolina should specialize in the production of both tea and coffee. b. hawaii should specialize in the production of tea, whereas south carolina should specialize in the production of coffee. c. hawaii should specialize in the production of coffee, whereas south carolina should specialize in the production of tea. d. hawaii should specialize in the production of both tea and coffee.