The adjusted trial balance of blossom company at december 31, 2019, includes the following accounts: common stock $17,200, dividends $7,000, service revenue $38,900, salaries and wages expense $16,200, insurance expense $2,400, rent expense $4,600, supplies expense $1,000, and depreciation expense $1,200. the balance in common stock is the balance as of january 1. prepare a retained earnings statement for the year assuming net income is $13,500 for the year and retained earnings is $7,900 on january 1.

Many potential buyers value high-quality used cars at the full-information market price of € p1 and lemons at € p2. a limited number of potential sellers value high-quality cars at € v1 ≤ p1 and lemons at € v2 ≤ p2. everyone is risk neutral. the share of lemons among all the used cars that might be potentially sold is € θ . suppose that the buyers incur a transaction cost of $200 to purchase a car. this transaction cost is the value of their time to find a car. what is the equilibrium? is it possible that no cars are sold