Determine:

1. Net sales                                 $______

2. Gross profit                            $______

3. Operating expenses              $______

4. Operating income                 $______

5. Pretax income (IBT)              $______

6. Net income                             $______

7. Purchases                               $______

8. Gross profit ratio (two decimal places) __ __. __ __%

Use the following for 9 and 10

The company sold 920 units

9. Determine ending inventory using FIFO:   $_________

10. Determine ending inventory using LIFO:  $_________

A manager at another store wants to know if an add campaign increased her average monthly revenue above $100 (thousand). She has provided you 36 months of data. She wants to know at the 95% condence level and at the 99% confidence level. She will be even more impressed if you can give the exact p-value and accurately describe what it means. Show how you solved this problem then explain what you did in words in the text box below. For example, is this a two-sided or one sided test? How did you proceed from there? You should label some of the cells with words then put the value next to those words. Heres the data: Month Revenue (thousands) 1 102.87 2 107.28 3 100.78 4 96.50 5 97.51 6 98.26 7 104.88 8 103.95 9 107.00 10 106.98 11 106.01 12 101.70 13 98.78 14 98.92 15 99.08 16 102.45 17 95.93 18 101.46 19 105.57 20 103.24 21 100.59 22 104.20 23 99.83 24 105.93 25 102.85 26 102.55 27 104.91 28 106.13 29 95.92 30 97.51 31 107.28 32 95.69 33 99.50 34 95.76 35 95.62 36 101.17

State the method ( Winter's additive or multiplicative) which is the most accurate to forecast for 2018 according to the data set?

a   Prepare Sparks’ income statement and statement of retained earnings for the month of June.
b   Prepare the appropriate closing entries at 30 June.

c   What is the purpose of ‘closing the books’ at the end of an
accounting period?

Hours Open Total Revenue (dollars) 1 $275 2 375 3 450 4 500 5 53 6 550 Ivan runs a custom jewelry shop in Sparkle City. He is debating whether he should extend his hours of operation. Ivan figures that his sales revenue will depend on the number of additional hours the jewelry shop is open as shown in the table above. He would have to hire a worker for those hours at a wage rate of $25 per hour. a) What does the word "marginal" mean in economics? What is a marginal benefit? What is a marginal cost? What is marginal analysis? b) Using marginal analysis, how many hours should Ivan extend his hours of operations? c) What is Ivan's marginal benefit if he decides to stay open for six hours instead of five hours? d) What is Ivan's marginal cost if he decides to stay open for six hours instead of five hours?

6.3 Assume that the hospital uses the direct method for cost allocation. Furthermore, the cost driver for general administration and financial services is patient services revenue, while the cost driver for facilities is space utilization.

a. What are the appropriate allocation rates?

b. Use an allocation table similar to Exhibit 6.7 to allocate the hospital’s overhead costs to the patient services departments.

6. During 2017, Miami Inc. had sales revenue $1,328,000, gross profit $728,000, operating expenses $398,000, cash dividends $90,000, other expenses and losses $40,000. Its corporate tax rate is 30%. What was Miami's income tax expense for the year?

Select one:

a. $ 60,000

b. $ 87,000

c. $ 99,000

d. $267,000

e. $218,400

8.On January 1, 2018, equity account balances are as follows:

                  Preferred Stock                                                                 $       500,000

                  Common Stock                                                                        1,000,000

                  Paid-In Capital in Excess of Par - Preferred                           200,000

                  Paid-In Capital in Excess of Par - Common                         500,000

                  Paid-In Capital From Treasury Stock                                      20,000

                  Retained Earnings                                                                  1,500,000

                  Treasury Stock (25,000 shares purchased 3/15/17)            762,500

            On January 15, 2018, 10,000 shares of treasury stock are sold at $15 per share. The entry to record this transaction includes a

Select one:

a. debit to Paid-In Capital From Treasury Stock of $135,000

b. debit to Paid-In Capital From Treasury Stock of $155,000

c. debit to Retained Earnings of $155,000

d. debit to Paid-In Capital From Treasury Stock of $150,000

e. debit to Retained Earnings of $135,000

9.Relative to a given bond issue, using either the straight-line method or the effective-interest method of amortization will result in

Select one:

a. the same amount of interest expense being recognized each year.

b. the same amount of interest expense being recognized over the life of the bonds.

c. the same carrying value each year during the life of the bonds.

d. more interest expense being recognized than if premium or discounts were not amortized.

10.Blanco, Inc. has a net income of $300,000 for 2017, and there are 200,000 weighted-average shares of common stock outstanding. Dividends declared and paid during the year amounted to $40,000 on preferred stock and $60,000 on common stock. Earnings per share for 2017 is

Select one:

a. $1.20.

b. $1.50.

c. $1.30.

d. $1.00.

e. $2.00.

Using the financial data for the sample of Healthcare companies in the table below, calculate the average Financial Leverage. AND TELL ME HOW TO DO THIS . THANKS

QUESTION SIX
6.1 Using marginal cost (MC), marginal revenue (MR), average cost (AC) curves in an appropriate diagram, illustrate and explain how a firm can make abnormal profits.

My subject is ECONOMICS