Following are the transactions and adjustments that occurred during the first year of operations at Kissick Co.

a. Issued 192,000 shares of $5-par-value common stock for $960,000 in cash.

b. Borrowed $530,000 from Oglesby National Bank and signed a 11% note due in three years.

c. Incurred and paid $390,000 in salaries for the year.

d. Purchased $720,000 of merchandise inventory on account during the year.

e. Sold inventory costing $590,000 for a total of $900,000, all on credit.

f. Paid rent of $220,000 on the sales facilities during the first 11 months of the year.

g. Purchased $180,000 of store equipment, paying $55,000 in cash and agreeing to pay the difference within 90 days.

h. Paid the entire $125,000 owed for store equipment and $600,000 of the amount due to suppliers for credit purchases previously recorded.

i.Incurred and paid utilities expense of $37,000 during the year.

j. Collected $845,000 in cash from customers during the year for credit sales previously recorded.

k. At year-end, accrued $58,300 of interest on the note due to Oglesby National Bank.

l. At year-end, accrued $20,000 of past-due December rent on the sales facilities.

Required:

a. Prepare an income statement (ignoring income taxes) for Kissick Co.'s first year of operations and a balance sheet as of the end of the year. (Hint: You may find it helpful to prepare a T-account for the Cash account since it is affected by most of the transactions.)

b. Prepare a balance sheet as of the end of the year. (Hint: You may find it helpful to prepare a T-account for the Cash account since it is affected by most of the transactions.) (Amounts to be deducted and net loss should be indicated with minus sign.)

Starting at the end of this year, you plan to make annual deposits of $5,000 for the next 10 years followed by deposits of $13,000 for the following 10 years. The deposits earn interest of 4.6%. What will the account balance be by the end of 33 years? Round to the nearest cent

You are interested in buying a house and renting it out. You expect to receive a monthly net income of $1450 from rent. You then expect to sell the house for $329,000 at the end of 54 months. If your discount rate on this investment is 9% per year (compounded monthly), how much is this property worth to you today? Assume that you receive rent at the beginning of each month and you receive the first rent the same day you purchase the property. Round to the nearest cent

A 68 year old women was admitted to a hospital because of headaches that began a month earlier. She was in good health, prior to developing severe headaches, vertigo, photophobia, lethargy, and forgetfulness. Her temperature was 98.9 degrees F, and she knew her name but not the date. She had some resistance to bending her neck, consistent with mild inflammation of the meninges. She also had past-pointing when reaching for objects. A lumbar puncture revealed a total white blood cell count of 18/microliter ( normal is up to 4) and 75% polymorphonuclear leukocytes. CSF glucose was low suggesting a microbe was present in the subarachnoid space. The lab tech performing the wbc count noticed cells that were not wbc. To investigate further, the tech centrifuged the CSF, and stained the sediment with India ink. The round cell appeared to be budding, much like yeasts. In addition, the cell appeared to have a capsule.

1. What type of microbe could be causing the meningitis? Give one reason to support your answer based on the information provided.

2. Of the following eukaryotic microbes, which one is characterized by having polysaccharide capsules? Candida albicans, Histoplasma capsulatum, Crytococcus neoformans.

In July of 2003 a construction worker came to a hospital in Palm Beach County complaining of fever, headaches, chills, nausea and malaise. After being treated for dehydration he was discharged. Two days later he returned to the hospital with worsening symptoms, and was admitted with a diagnosis of malaria. The next day his blood smear revealed Plasmodium. During July and August a plumber who worked outside, a fisherman who fished in the evenings, a golfer, a homeless individual, a carpenter and an outdoorsman all had Plasmodium infections. Six of the seven men had never traveled to a malarious region, none had had recent blood transfusions or was an IV drug user. Targeted mosquito trapping produced no Plasmodium-infected mosquitoes.

3. What could an epidemiologist infer from the interviews of the seven patients? What disease did all seven have?

4. How is this disease transmitted? How was it transmitted in this case?

Cindy, who will graduate from college in a year is deciding whether to go on for her master’s degree which will last two years. She figures that if she takes a job immediately, she can earn $40,000 per year in real terms for the remainder of her working years. If she goes on for two more years of graduate study, however, she can increase her earnings to $50,000 per year. The cost of tuition is $40,000 per year in real terms. Is this a worthwhile investment if the real interest rate is 5% per year?—(Assume she will retire after working for 40 years. AND SHOW YOUR WORK)—4 pts.

Suppose that the USDA expects that 53.3 billion bushels of soybeans will be produced this year at a price of $8.50/bushel. Assume that the elasticity of supply is 0.3 and that the elasticity of demand is -0.2 (both very inelastic).

2. What quota is required to increase the soybean price to $9.25/bushel? And what is the economic cost of this solution (i.e., what is the change in producer surplus and change in consumer surplus, and what is the sum of these changes)?

3. The Global pandemic in year 2020 has caused a decline in the prices of equity and credit securities. Many superannuation funds are expected to generate negative returns on investments during this period.

Required

Discuss how negative returns would affect employees and employers if the superannuation funds is a:

i.          defined benefit plan                                                                                        

ii.         defined contribution plan                                                                                

What is the value today of a money machine that will pay $4,319.00 per year for 24.00 years? Assume the first payment is made 2.00 years from today and the interest rate is 8.00%.

A company is evaluating the replacement of an old machine with a new one last year the company hired a consultant to conduct a feasibility study about this replacement project which cost them $1,000,000 at that time. The consulting fees were expensed last year The old machine was purchased 3 years ago for $4 million and was being depreciated using MACRS 5.yoar class (20%, 32% 19 2%, 11 52% 11.52% and 5 76%) The old machine can be sold for S1 million at this time the old machine is not replaced it can be sold for $500,000 four years from now The replacement machine has a cost of $3 million an estimated usolulite of 4 years This machine will be depreciated using straight line method to salvage value. The replacement machine would permitan output expansions Sales would nse by $1.5 million per year even so the new machine's much greater efficiency would cause operating expenses to decline by $350.000 per year. The new machine would require that inventones to increase by 51 milion accounts receivables to increase by $750,000 accounts payable increase by $100.000 and accrued expenses increase by $300.000 The interest expense on the debt component of the capital required for this project will be $350 000 annually. The now machine can be sold for $125.000 at the end of 4 years to another company The company's marginal federal plus state tax rate is 30% and WACC is 125 What is the CH4 (The cash flow to be used in NPV calculation) 2.307,500 1,974.500 2481 200 2.756.400 3,018,200