Molly and Mark are wife and husband and earned salaries this year of $12,000 and $64,000, respectively. In addition to their salaries, they received interest of $350 from municipal bonds and $500 from corporate bonds. Mark and Molly also paid $2,500 of qualifying moving expenses, and Marc paid alimony to a prior spouse in the amount of $1,500. Mark and Molly have a 10-year-old son, Matt, who lived with them throughout the entire year. Thus, Marc and Michelle are allowed to claim a $1,000 child tax credit for Matt. Mark and Molly paid $6,000 of expenditures that qualify as itemized deductions and they had a total of $5,500 in federal income taxes withheld from their paychecks during the course of the year. What is Molly and Mark’s gross income? What is Molly and Mark’s adjusted gross income? What is the total amount of Molly and Mark’s deductions from AGI? What is Molly and Mark’s taxable income? What is Molly and Mark’s taxes payable or refund due for the year (use the tax rate schedules)? Complete the first two pages of Molly and Mark’s Form 1040 (download forms from the IRS website). 2018 TAX LAW

Other data:

1.  Accrued but unrecorded and uncollected consulting fees earned at December 31 amount to: $27500.

2. The company determined that $16500 of previously unearned consulting fees had been earned at December 31.

3.  Office supplies on hand at December 31 total $330

4.  The company purchased all of its equipment when it first began business. At that time, the estimated useful life of the equipment was six years.

5. The company prepaid its nine-month rent agreement on June 1, 2020.

6. The company prepaid its six-month insurance policy on December 1, 2020

7.  Accrued but unpaid salaries total $13200 at December 31,2020.

8. On September 1, 2020, the company borrowed $66000 by signing an eight-month, 4 percent note payable. The entire amount, plus interest, is due March 31, 2021.

Account                                                                                 Debit                             Credit

Cash                                                                                       304,150

Accounts Receivable                                                             99,000

Office supplies                                                                            880

Prepaid rent.                                                                            3,960

Unexpired insurance                                                              1,650

Office equipment                                                                  79,200

Accumulated depreciation: office equipment                                                          26,400

Accounts payable                                                                                                              4,400

Notes payable (due 3/1/12)                                                                                          66,000

Interest payable                                                                                                                    660

Income taxes payable                                                                                                       9,900

Dividends payable                                                                                                             3,500

Unearned consulting fees                                                                                              24,200

Capital stock                                                                                                                   220,000

Retained earnings                                                                                                           44,000

Dividends                                                                              3,500

Consulting fees earned                                                                                               550,000

Rent expense                                                                        16,170

Insurance expense                                                                 2,420

Office supplies expense                                                        4,950

Depreciation expense: office equipment                        12,100

Salaries expense                                                                363,000

Utilities expense                                                                    5,280

Interest expense                                                                    3,300

Income taxes expense                                                        49,500

Totals                                                                                   949,060                      949,060

1. Using the financial statements prepared in part b., evaluate the company ́s (i) profitability, (ii) liquidity, and (iii) solvency.

If the salary is paid at the end of the year, how much will John get?

1. He can keep his current job at the management firm D&L. His annual salary at the firm is $65,000 per year and is salary is expected to increase at 3% per year until retirement. He is currently 28 years old and he expects to work for 40 more years. His current job includes a full paid health insurance plan and is current average tax rate is 26%. John has a savings account with enough money to cover the entire cost of the MBA program.

2. The Carlton College offers a one-year MBA program. The tuition cost is $85,000 to be paid upon matriculation. Books and other supplies for the program are expected to cost $4,500. The Carlton program is a full-time one that does not allow students to work in the meantime. John thinks that after the Carlton degree he will be able to receive an offer of $92,000 per year with a $18,000 signing bonus. The salary at this job will increase at 3.5% per year. His average tax rate at this level of income will be 29%.

As a recently hired MBA intern, you are working in a consulting capacity to provide an analysis for Al Dente's Italian Restaurant. A financial income Statement is presented below: Sales $2,698,000 Cost of sales (all variable) $1,557,563 Gross Margin $1,140,438 Operating expenses: Variable $277,975 Fixed $213,675 Total operating expenses: $491,650 Administative expenses (all fixed) $564,375 Net operating income $84,413 This income statement presents the sales, expenses and pre-tax operating income for a local eating facility. At Al Dente, the average meal cost for lunches and dinners are $20 and $40 respectively. Al Dente serves both lunch and dinner 300 days per year and serves twice as many lunches as dinners. As the MBA intern you are to prepare a managerial accounting focused report to the owners of Al Dente's Italian Restaurant, to include the following:

1. Prepare a contribution margin income statement using the given financial data. Use the following format:

Sales

Variable costs

Cost of sales

Operating

Total variable costs

Contribution margin

Fixed costs

Operating

Administrative

Total fixed costs

Net operating income

USE THE FOLLOWING DIRECTION FOR 1A AND 1B: In 2010, a random sample of 250 dog owners was taken and it was found that 140 owned more than one dog. Recently, a random sample of 400 dog owners showed that 200 owned more than one dog. Do these data indicate that the proportion of dog owners owning more than one dog has decreased? Use a 5% level of significance, and p1= proportion of dog owners who owned more than one dog in 2010. If you conduct hypothesis testing, you have to consider:

a. one-tailed test

b. two-tailed test

c. one-tailed test because sample proportions are different.

d. two-tailed test because sample size is large.

1b.) Assuming computed Z of 1.04 for the test, what is your conclusion?

a. Reject H0. Proportion of dog owners owning more than one dog has decreased.

b. Fail to reject H0. Proportion of dog owners owning more than one dog has decreased.

c. Reject H0. Proportion of dog owners owning more than one dog has not decreased.

d. Fail to reject H0. Proportion of dog owners owning more than one dog has not decreased.

e. None of the above.

1c.) A Rutgers University professor claims that there is no significant difference between proportion of female (f) and male students (m) of the university who exercise at least 15 minutes a day. What would be a proper conclusion if he collects data, conducts hypothesis test, and finds P-value of 0%.

a. Reject H0. There is a significant difference. --> I THINK THIS IS THE ANSWER BUT I JUST WANT TO KNOW WHY

b. Reject H0. There is no significant difference.

c. Fail to reject H0. There is a significant difference.

d. Fail to reject H0. There is no significant difference.

1d.) A Rutgers University professor claims that female students study more than male students. What would be a proper conclusion if he collects data from random sample of 200 males and sample of 343 females, and finds P-value of 0.65?

a. Reject H0. Female students study more than male students.

b. Fail to reject H0. Female students study more than male students.

c. Fail to reject H0. Female students study less than male students.

d. Fail to reject H0. Female students study almost the same as male students. ---> I THINK THIS IS THE ANSWER I JUST WANT TO KNOW WHY

In the Brown et al. (2013): Case Study - Whose Body? (p. 256) by Timothy B. Patrick, Peter J. Tonellato, & Mark A. Hoffman, which perspective presented in the case do you agree with? Are there cases of advances in medical knowledge that do not, at least potentially, threaten to violate the privacy of individual patients? What moral, ethical, and legal protocols can be considered in guiding clinicians in this case? Next, in guiding researchers in this case?

This is the case study:

Whose Body?

Timothy B. Patrick, Peter J. Tonellato, and Mark A. Hoffman

Two health sciences graduate students, Sandy and Grace, are discussing their differences of opinion about the value of clinical uses of genetic and genomic patient information.

Sandy: It’s always the same story – the supposed trade-off between the benefits to society and the sacrificed rights of the individual! Just remember the case of Henrietta Lacks. HELA cells (cancer cells taken from Henrietta before she died) have been invaluable to medical science; they led to the polio vaccine and other medical “miracles.” But Henrietta was never told what was going to be done whith her cells; she never gave her permission – and, by the way, neither did her close relatives and family know or give their permission. It’s a clear case, of science overstepping its bounds to the detriment of the individual.

Grace: Sandy, you yourself know that the scientific research’s benefit to society really means the medical care benefit; to the individual. Don’t you remember the recent case that took place here in our own hospital – the case of Jean, a 17-year old who was visiting at the home of a friend when she fell down, struck her head, and suffered serious injuries? She was raced to the ER where the required emergency surgery, and neither her parents nor relatives could be reached before the procedure. The mother of Jean’s friend provided the hospital with Jean’s name and home address, which allowed the ER personnel to associate Jean with her parents in the system. Using the hospitals healthcare information system, the surgeon entered an order for the protocol that she was planning to use to treat Jean. Among the details included in the protocol was the use of halothane: (a type of anesthesia). Jean had never been the subject of genetic testing, but her father had a genetic test, which found a mutation in the ryanodine receptor (RYRI) gene. When people with this mutation are exposed to halothane, they can experience malignant hyperthermia, an often-fatal reaction in which the core body temperature can reach 106 degree F.

The hospitals information system used the demographic person-person relationship between the father and his daughter, and embedded pharmacogenomics decision support capabilities, to infer that Jean was at 50 percent risk of also possessing this rare mutation. The system flashed an interactive alert to the surgeon, who was unaware of this genetic association. The surgeon responded to the alert by activating an alternative surgical plan that did not include the use of halothane. It was only by taking advantage of the genetic information about Jeans father that a potentially catastrophic clinical event was averted!

Sandy: But you make my case for me. The potential of abuse of the genetic data is magnified by the existence and use of sophisticated healthcare information systems. There’s no mystery about the potential for abuse. Jeans father was the one who had the test, not Jean. Yet the information produced by the test was also about Jean. Sure, revealing that information was about Jean as much as it was about her father. And Jean never gave her permission for that information to be used or revealed! It’s her body and her genome, not her father’s right? So it’s her right to privacy that was violated.

Grace: What about consent and protecting her privacy? And what about Jean’s father? Did he give permission to release the information from his genetic test to be used in ways other than for his diagnosis and treatment? How that is different from the Havasupai Indians’ lost- blood case? Arizona State University researchers asked the Havasupai if they would provide blood for studies to discover clues about the tribes incredible rate of diabetes, presumably to help the Havasupai. Then the researchers used the collected blood for other purposes. They used the extracted DNA for studies on mental illness. The initial diabetes studies seem to have led nowhere, but even if that effort helped save lives, it would have been lives saved without the Havasupai’s consent.

Grace: Sandy, for goodness sake, it was only blood!

Sandy: Not at all, Grace, not at all.

NOTE

Hippocratic oath (translated by and reprinted from North 2009):

I swear by Appollo, the healer, Asclepius, Hygicia, and Panacea, and I take to witness all the gods, all the goddesses, to keep according to my ability and my judgment, the following Oath and agreement: To consider dear to me, as my parents, him who taught me this art; to live in common with him and, if necessary to share my goods with him; To look upon his children as my own brothers, to teach them this art. I will prescribe regimens for the good of my patients according to my ability and my judgment and never do harm to anyone. I will not give a lethal drug to anyone if I am asked, nor will I advise such a plan; and similarly I will not give a woman a pessary to cause an abortion. But I will preserve the purity of my life and my arts. I will not cut for stone, even for patients in whom the disease is manifest; I will leave this operation to be performed by practitioners, specialist in this art. In every house where I come I will enter only for the good of my seduction and especially from the pleasures of love with women or with men, be they free of slaves. All that may come to my knowledge in the exercise of my profession or in daily commerce with men, ought not to be spread abroad, I will keep secret and will never reveal. If I keep this oath faithfully, may I enjoy my life and practice my art, respected by all men and in all times; but if I swerve from it or violate it, may the reverse be my lot.

There are four tables in the database.

1. students (sno, sname, sgender, sbirthday, class)

- sno: student number

- sname: student name

- sgender: male or female

- sbirthday: date of birth

- class: class number

- primary key: sno

2. courses (cno, cname, tno)

- cno: course number

- cname: course name

- tno: teacher number

- primary key, cno, tno

3. scores (sno, cno, grade)

- sno: student number

- cno: course number

- grade: grade

- primary key, sno, cno

4. teachers (tno, tname, tgender, tbirthday, title, department)

- tno: teacher number

- tname: teacher name

- tgender: teacher gender

- tbirthday: date of birth

- title: title of the teacher, e.g. professor, lecture, or TA

- department: department name, e.g. CS, EE.

Question 1: In the score table, find the student number that has all the grades in between 90 and 70.

Question 2: For all the courses that took by class 15033, calculate the average grade.

Question 3: Find the class number that has at least two male students.

Question 4: Find the teacher's name in CS and EE department, where they have different title. Return both name and title.

Question 5: Find the students, who took the course number "3-105" and have earned a grade, at least, higher than the students who took "3- 245" course. Return the results in a descending order of grade.

Question 6: Find the students, who took more than 1 course, and return the students' names that is not the one with highest grade.

Question 7: For each course, find the students who earned a grade less than the average grade of this course.

1. The data below show the consumption of alcohol (X, liters per year per person, 14 years or older) and the death rate from cirrhosis, a liver disease (Y, death per 100,000 population) in 15 countries (each country is an observation unit).

   Country	Alcohol Consumption (x)	Death Rate from Cirrhosis (y)
   France	24.7	46.1
   Italy	15.2	23.6
   Germany	12.3	23.7
   Australia	10.9	7.0
   Belgium	10.8	12.3
   USA	9.9	14.2
   Canada	8.3	7.4
   England	7.2	3.0
   Sweden	6.6	7.2
   Japan	5.8	10.6
   Netherland	5.7	3.7
   Ireland	5.6	3.4
   Norway	4.2	4.3
   Finland	3.9	3.6
   Israel	3.1	5.4

a. Does the scatter plot show evidence of a linear correlation? If yes, what type?

c. Given:

E x= 134.2, E y=175.5, E x^2=1630.12, E y^2=3959.61, E xy=2419.61

Find= Sx=, Sy=, Sxy=,

d. Given slope = 1.98, find the regression line of  on  Write the answer in context of this problem.  

b= equation=

e. Interpret the slope (m) in context of this problem.

answer=

f.Given r = 0.938, find r squared. Round off to the nearest whole number.

r-squared=

g. Interpret r squared in context of his problem.

answer=

Not sure about question f-j . looking to confirm my answers with someone

Health spending per person from a random sample of 20 countries is shown below.

1. Create a histogram by hand for the frequencies of the per capita health expenditure data.
2. What feature or features of this distribution indicate that the data are likely not from a population having a normal distribution?
3. What features of this distribution make it a good candidate to try a log transformation?
4. Calculate the natural log transformation for each data point of the sample. Create a new histogram with this transformed data, by hand.
5. What is the sample size?
6. What is the mean of the log health expenditure?
7. What is the standard deviation of the mean log health expenditure?
8. Calculate the standard error of the mean log health expenditure.
1. Calculate the 95% confidence interval for the mean log health expenditure and interpret it in full sentences.
10. What are the 95% confidence intervals on the non-log scale? Convert back the two values in your confidence interval.

Explain how the strategy of the School of Management within Metropolitan State University is or should be different than the strategy for Metropolitan State University?