Presented below is information related to Swifty Inc.’s inventory, assuming Swifty uses lower-of-LIFO cost-or-market.(per unit) Skis Boots ParkasHistorical cost $201.40 $112.36 $56.18Selling price 224.72 153.70 78.18Cost to distribute 20.14 8.48 2.65Current replacement cost 215.18 111.30 54.06Normal profit margin 33.92 30.74 22.53Determine the following:(a) The two limits to market value (i. e., the ceiling and the floor) that should be used in the lower-of-cost-or-market computation for skis. (Round answers to 2 decimal places, e. g. 52.75.)Ceiling Limit $enter a dollar amountFloor Limit $enter a dollar amount(b) The amount that should be used in the lower-of-cost-or-market comparison of boots. (Round answers to 2 decimal places, e. g. 52.75.)(c) The amount that should be used to value parkas on the basis of the lower-of-cost-or-market. (Round answers to 2 decimal places, e. g. 52.75.)

Investment x offers to pay you $5,700 per year for 9 years, whereas investment y offers to pay you $8,300 per year for 5 years. if the discount rate is 6 percent, what is the present value of these cash flows? (do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) present value investment x $ investment y $ if the discount rate is 16 percent, what is the present value of these cash flows? (do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) present value investment x $ investment y

Bridgeport company began operations at the beginning of 2018. the following information pertains to this company. 1. pretax financial income for 2018 is $115,000. 2. the tax rate enacted for 2018 and future years is 40%. 3. differences between the 2018 income statement and tax return are listed below: (a) warranty expense accrued for financial reporting purposes amounts to $7,500. warranty deductions per the tax return amount to $2,200. (b) gross profit on construction contracts using the percentage-of-completion method per books amounts to $94,700. gross profit on construction contracts for tax purposes amounts to $67,100. (c) depreciation of property, plant, and equipment for financial reporting purposes amounts to $61,800. depreciation of these assets amounts to $75,700 for the tax return. (d) a $3,600 fine paid for violation of pollution laws was deducted in computing pretax financial income. (e) interest revenue recognized on an investment in tax-exempt municipal bonds amounts to $1,500. 4. taxable income is expected for the next few years. (assume (a) is short-term in nature; assume (b) and (c) are long-term in nature.) (a) prepare the reconciliation schedule for 2017 and future years. (b) prepare the journal entry to record income tax expense for 2017. (c) prepare the income tax expense section of the income statement beginning with “income before income taxes.” (d) determine how the deferred taxes will appear on the balance sheet at the end of 2017.

Plastic and steel are substitutes in the production of body panels for certain automobiles. if the price of plastic increases, with other things remaining the same, we would expect: a) the demand curve for plastic to shift to the left. b) the price of steel to fall. c) the demand curve for steel to shift to the left d) nothing to happen to steel because it is only a substitute for plastic. e) the demand curve for steel to shift to the right