Prepare an income statement and a balance sheet using the journal entries below.

Adjusting Entries:

Net Income = 14,347

Required information

[The following information applies to the questions displayed below.]

Washington County’s Board of Representatives is considering the construction of a longer runway at the county airport. Currently, the airport can handle only private aircraft and small commuter jets. A new, long runway would enable the airport to handle the midsize jets used on many domestic flights. Data pertinent to the board’s decision appear below.

In addition to the preceding data, two other facts are relevant to the decision. First, a longer runway will require a new snowplow, which will cost $120,000. The old snowplow could be sold now for $12,000. The new, larger plow will cost $8,000 more in annual operating costs. Second, the County Board of Representatives believes that the proposed long runway, and the major jet service it will bring to the county, will increase economic activity in the community. The board projects that the increased economic activity will result in $80,000 per year in additional tax revenue for the county.

In analyzing the runway proposal, the board has decided to use a 10-year time horizon. The county’s hurdle rate for capital projects is 14 percent.

Use Appendix A for your reference. (Use appropriate factor(s) from the tables provided.)

Required:

1. Compute the initial cost of the investment in the long runway.

2. Compute the annual net cost or benefit from the runway.

3-a. Determine the IRR on the proposed long runway. (Round your answer to the nearest whole percent.)

3-b. Should it be built considering IRR?

In analyzing the runway proposal, the board has decided to use a 10-year time horizon. The county’s hurdle rate for capital projects is 14 percent. The County Board of Representatives believes that if the county conducts a promotional effort costing $28,000 per year, the proposed long runway will result in substantially greater economic development than was projected originally. However, the board is uncertain about the actual increase in county tax revenue that will result.

Required:

Suppose the board builds the long runway and conducts the promotional campaign. What would the increase in the county’s annual tax revenue need to be in order for the proposed runway’s internal rate of return to equal the county’s hurdle rate of 14 percent? (Round intermediate and final answer to the nearest dollar amount.)

I send you the entire question but only the last part I need help with. I got all the other parts correct ,but you need to see everthing to follow . Please show clear detail working. What would be the increase in the county annual revenue need to be be in order for the proposed runway's internal rate of return to equal to the hurdle rate of 14%?

1. The individual labor supply curve will be negatively sloped if the substitution effect of wages is:

Group of answer choices

a) Weaker than the income effect of wages.

b) Equal to the income effect of wages.

c) Stronger than the income effect of wages.

d) Negative.

2.

Ceteris paribus, if immigration to the United States increases the number of workers, the market labor-supply curve will shift to the:

Group of answer choices

a) Right and the equilibrium wage rate will fall.

b) Right and the equilibrium wage rate will rise.

c) Left and the equilibrium wage rate will fall.

d) Left and the equilibrium wage rate will rise.

3.

If consumers decide to buy fewer strawberries, then the:

Group of answer choices

a) Demand for strawberry pickers will fall.

b) Demand for strawberry pickers will rise.

c) Quantity demanded of strawberry pickers will fall.

d) Quantity demanded of strawberry pickers will rise.

4.

Other things being equal, higher wage rates will:

Group of answer choices

a)Decrease the supply of labor.

b)Increase the supply of labor.

c)Decrease the demand for labor.

d)Decrease the quantity demanded of labor.

5.

The marginal revenue product of labor is equal to:

Group of answer choices

a)The marginal physical product multiplied by the marginal revenue of the output.

b)The change in the quantity of labor divided by the change in total revenue.

c)The change in total output divided by the change in the quantity of labor.

d)The percentage change in total revenue divided by the percentage change in the quantity of labor.

6.

Other things being equal, a profit-maximizing employer will employ additional labor as long as:

Group of answer choices

a)The MPP of labor exceeds the MRP of labor.

b)The wage rate exceeds marginal revenue.

c)The cost efficiency of labor falls relative to other inputs.

d)The MRP of labor exceeds the wage rate.

7.

In Table 15.1, the marginal physical product of the third worker hired is:

Group of answer choices

a)15 units per hour.

b)4 units per hour.

c)3 units per hour.

d)5 units per hour.

8.

In Table 15.1, how many workers should be hired?

Group of answer choices

a)2

b)3

c)4

d)5

9.

If the elasticity of labor demand is -0.60, a 15 percent increase in the wage rate will induce a:

Group of answer choices

a)9 percent decrease in the quantity of labor demanded.

b)9 percent increase in the quantity of labor demanded.

c)4.0 percent decrease in the quantity of labor demanded.

d)4.0 percent increase in the quantity of labor demanded.

10.

If the elasticity of labor demand is -0.60, then as a result of the increase in the wage rate, total labor income will   _________.

Group of answer choices

a) increase because labor demand is elastic.

b)decrease because labor demand is elastic.

c)increase because labor demand is inelastic.

d) decrease because labor demand is inelastic.

APPLY THE CONCEPTS: Construct the income statement

When constructing the income statement, it is important to understand that the income statement reports the revenues and expenses for a period of time, based on the matching concept. This concept is applied by matching the expenses with the revenue generated during a period by those expenses. The excess of the revenue over the expenses is called net income or net profit.

Pleasant Co. has compiled the following account balances from its general ledger on July 31, 20Y8 (the last day of its fiscal year).

Use the information given to create Pleasant Co.’s annual financial statements. Construct Pleasant’s income statement for 20Y8.

Feedback

From the balances above, select the appropriate revenue and expense items, and compute the appropriate subtotals.

APPLY THE CONCEPTS: Construct the Statement of Stockholders' Equity.

The statement of stockholders' equity shows the change in statement of stockholders' equity as a result of net income and any dividends. It also serves as an important link between the income statement and the balance sheet in that it translates the effects of net income into an updated number for statement of stockholders' equity. Construct Pleasant’s statement of stockholders' equity for 20Y8.

Feedback

Hover over the statement of stockholders' equity definition in the earlier step to review the construction of this statement. Remember that Net Income or Net Loss from the statement in the prior step is the linking value between these two statements.

APPLY THE CONCEPTS: Construct the balance sheet

The balance sheet, also known as the statement of financial position, shows the company’s assets and the claims against those assets in the form of liabilities and stockholders' equity. Unlike financial statements that display financial performance over a given interval of time, the balance sheet is a snapshot of a financial position at a given point in time.

Construct Pleasant’s balance sheet in account form for 20Y8.

This is t a relational database please write SQL queries to solve the listed questions.

The database is a variation of the “Movie Database” . There are several differences in it, so look it over carefully before writing your SQL queries

Notes:

• TheaterNum, MovieNum, and ActorNum are numeric primary key fields in their respective tables. Movie and actor names are not assumed to be unique unless specified otherwise in a question.
• In the THEATER table, Capacity is the number of seats in a theater.
• In the MOVIE table, Year is the year a movie was filmed.
• The ACTED IN table lists all of the actors who acted in a movie. The Star field can have the values Y (yes) or N (no). Assume there is only one star in each movie.

CITY

THEATER

MOVIE

SHOWINGS

DIRECTOR

PRODUCER

ACTOR

PREVIOUSJOB

ACTEDIN

NEWSPAPER

REVIEWER

REVIEW

Questions

Remember to follow all of the instructions listed on the first page.

1. Which theater(s) in Tennessee have the largest capacity?

2. How many reviews were written for each movie directed by John Carter that were filmed in the period 2014 to 2019

3. List the phone number of every theater in Tennessee. Order the results by theater number.

4. What was the total revenue generated by movies made in 2015 that were both directed by James Smith and produced by Mary Jones?

5. Assume there is only one movie titled, “The Matrix.” Who reviewed it?

6. List the cities in Tennessee that have theaters with capacities of at least 200 seats. List the cities in alphabetic order.

7. Which movies have generated more revenue than the movie directed by John Carter in 2010 that generated the most revenue of the movies he directed that year?

8. Which theaters in Tennessee, Arkansas, or Mississippi (you may use 2-letter abbreviations) showed movies whose titles began with any of the letters R, S, or T? List the theaters in numeric order.

9. Who is the oldest actor who starred in a movie made between 1995 and 2005 that was both directed by James Smith and produced by Mary Jones?

10. What was the total revenue generated by movies produced by each producer from 2010 to 2018 that starred an actor who is currently under 40 years of age? Only include producers whose movies generated more than a total of $75,000,000.

Operating Income is an important metric and represents the profit that is left over when operating expenses and cost of goods sold are deducted from revenue. It is also referred to as what?

• A. Interest income

• B. Earnings before Income Taxes, or EBT

• C. Bottom line

• D. Earnings before interest and taxes, or EBIT

19) The ________, the ________ necessary for short-run market adjustment.

A) lower the fixed costs; greater the price change

B) higher the marginal revenue; larger the marginal cost

C) higher the fixed costs; greater the price change

D) lower the average variable costs; smaller the marginal cost

E) none of the above

PrimeFlix sells one-year online subscriptions for viewing classic movies. Customers are required to pay for the subscription at the beginning of the subscription period. On April 1, 2021, total sales of one-year subscriptions are $12,000. What is the adjusted balance of Deferred Revenue on December 31, 2021?

• $9,000.

• $3,000.

• $0.

• $12,000.

The price of hot dogs changed from six dollars to seven dollars per case. At the same time, quantity demanded changed from sixty cases to fifty cases.

a) Calculate the elasticity coefficient (5 points)

b) Calculate the total revenue for each price change and explain implications (5 points)