Snowman Co. had the following December 31, 2017, account balances (listed in alphabetical order):

Additional information not included in the above.

The tax rate is 30%

On April 1, 2017, the company sold Division M (a component of the company), which had been unprofitable for several years. For the first 3 months of 2017, Division M had operating revenues of $25,000 and operating expenses of $33,800. The division assets had a historical cost of $80,000, had been depreciated for seven years using the straight line method, allowing for a $5,000 residual value, and a ten year life. The assets were sold for $45,000.

In the middle of December, 2017, the company incurred a material $5,500 pretax loss as a result of a flood on a river that floods once every 25 years.

During a review of the 2017 entries to ascertain what adjusting entries needed to be made, it was discovered that Legal Fees of $14,000, incurred in 2015 and associated with researching a potential patent were capitalized to the account patents in 2015. The patent was never applied for and the product idea was scrapped. In 2016 patent amortization was recorded, based on a twenty-year patent life. No amortization entry was recorded in 2017.

The company paid cash dividends of $.90 per share on its common stock. All the stock was outstanding for the entire year.

While making its December 31, 2017 adjusting entries, the company conducted an analysis of its recent favorable experience with uncollectible accounts receivable, and decided to reduce the percentage used in computing bad debt expense. The use of the new percentage resulted in the $1,900 bad debt expense being $500 less than the amount that would have been calculated using the old percentage.

During 2017, the company elected to switch from the completed contract method to the percentage of completion method for the work performed by its Consulting Division. This division has been in existence since 2015. The effect of this change was an increase in revenue in 2015 of $15,000, an increase in 2016 of $20,000 and an increase in 2017 of $25,000. The percentage of completion method was applied to all consulting revenue recorded in 2017. Consulting revenue is combined with other sales revenue for reporting purposes on the financial statements.

REQUIRED:

Prepare a single step Income Statement for Snowman Co. being sure to differentiate between Selling Expenses and Administrative Expenses.

Prepare a Statement of Retained Earnings for Snowman Co.

Where needed, provide schedules to show the details of your calculations and numbers.

Which of the “additional information” items would require footnote disclosure? Briefly explain what the footnote would need to state or explain.

Before you begin this discussion, find a coin and flip it 10 times, recording the outcome of each flip as either heads or tails. Post your results in this discussion, along with the percentage of flips that resulted in heads. We might expect that percentage to be 50%, but the results may vary from student to student (sometimes drastically) in this exercise. As a response to other students, add their data to yours and compute the new percentage of flips that result in heads (You can just make up realistic predictions for the other students). With enough data added, what would you expect to find? What does the central limit theorem have to say about the long-term outcome of exercises like this?

The weight of an organ in adult males has a bell-shaped distribution with a mean of 300 grams and a standard deviation of 45 grams. Use the empirical rule to determine the following.

(a) About 68% of organs will be between what weights?

(b) What percentage of organs weighs between 165 grams and 435 grams?

(c) What percentage of organs weighs less than 165 grams or more than 435 grams?

(d) What percentage of organs weighs between 255 grams and 435 grams?

(A) _ and _grams. (use ascending order.)

(B) _ % (type an integer or a decimal.)

(C) _ % (type an integer or a decimal.)

(D) _% (type an integer or decimal rounded to two decimal places as needed.)

8. The percentage of sales method has been used to forecast the firm’s financial statements. Sup-pose one of the senior executives asked you what assumptions are implied when one uses the percentage of sales method. That is, under what circumstances would the percentage of sales method produce a valid, as opposed to an incorrect, forecast? How would you answer? 9.

9.What are some other methods that could be used to forecast the asset-and-liability balances and, thus, the forecasted financial requirements? If the senior executives asked you to incor-porate these procedures into your analysis, how would you do it, how long would it take, and what additional data would you require

1. Each of the following situations describes error in a statistical experiment, where a researcher is trying to find the percentage of American college students who identify as Democrats or Republicans. State whether this is sampling or non-sampling error, and explain why you chose that answer.
   1. The researcher randomly selects 400 college students from around the country and asks them if they are Democrats or Republicans. The researcher finds that 38% of the students are Democrats, when the actual percentage is 41%.
   2. The researcher sets up a table in the cafeteria at their University, a wealthy private school in New England, and asks students who pass by if they identify as a Democrat or Republican. They find that 53% of the surveyed students identify as Republicans, when the actual percentage is 36%.

The question was:

Finals are over and the marks are in. For all the students who have completed the introductory course to business statistics the distribution of the grades represented a bell-shaped distribution, symmetrical about the average which was 75.90 marks. The standard deviation was 1.40.

Given the information above, answer the following questions using the Empirical Rule.

For full marks your answer should be accurate to at least two decimal places.

a) Approximately what percentage of marks were above 77.30?

b) Approximately what percentage of marks were below 71.70?

c) Approximately what percentage of marks were between 71.70 and 80.10?

I don't want to get answers, I want method steps，Thanks!

1. Many people in Texas are employed by foreign owned firms. Which countries are the top 5 foreign-employers in Texas?

2. . What percentage of the exports from Texas are originated in the Dallas/Fort Worth/Arlington area? Which area is number one?

3. Which three countries are the top Exporters into the U.S. from the December 2019 year to date figures? List them in order from high to low in terms of their value in U.S. Dollars (round to billions) as well as their percentage of total exports.

6. Which are the top three importers into the U.S.? List them in order from high to low in terms of their value in U.S. Dollars (round to billions) as well as their percentage of total imports.

Each of the following three datasets represent IQ Scores for three random samples of different sizes. The population mean is 100 population standard deviation is 15. Compute the sample mean, median and standard deviation for each sample size:

10) Using the sample size of 30 above in problem eight, your child was tested and has an IQ Score of 140. Calculate Z-Scores to answer these questions:

a. If your child has an IQ Score of 75, what percentage of the population has a lower score?

b. What percentage of the population has a IQ Score between 70 and 130?

c. If your child has an IQ Score of 140, what percentage of the population has a higher score?

Consider a population of 1024 mutual funds that primarily invest in large companies. You have determined that μ​, the mean​ one-year total percentage return achieved by all the​ funds, is 9.70 and that σ​, the standard​ deviation, is 1.75. Complete​ (a) through​ (c).

a. According to the empirical​ rule, what percentage of these funds is expected to be within ±3 standard deviations of the​ mean?

b. According to the Chebyshev​ rule, what percentage of these funds are expected to be within ±2 standard deviations of the​ mean ​(Round to two decimal places as​ needed.)

c. According to the Chebyshev​ rule, at least 88.89% of these funds are expected to have​ one-year total returns between what two​ amounts? ​(Round to two decimal places as​ needed.)

(Hypothetical) In a major national survey of crime victimization, the researchers found that 17.0% of Americans age 12 or older had been a victim of crime. The size of the sample was 6,4,00.

a) Estimate the percentage of Americans age 12 or older who were victims at the 95% confidence level. Write a sentence explaining the meaning of this confidence interval.

b) Estimate the percentage of victims at the 99% confidence level. Write a sentence explaining the meaning of this confidence interval.

Imagine that the Sample size was cut in half to 3,200, but the survey found the same value of 17.0% for the percentage of victims.

c) Would the 95% confidence interval increase or decrease? By how much?

d) Would the 99% confidence interval increase or decrease? By how much?