The trial balance of mint corp. at december 31, year 6, is presented below and has been adjusted except for income tax expense. other financial data for the year ended december 31, year 6, are as follows:
mint uses the percentage-of-completion method to account for long-term construction contracts for financial statement and income tax purposes. all receivables on these contracts are considered to be collectible within 12 months.
during year 6, estimated tax payments of $450,000 were charged to prepaid taxes. mint has not recorded income tax expense. there were no temporary or permanent differences, and mint’s tax rate is 30%.
dr. cr. cash $ 600,000
accounts receivable, net 3,500,000
costs in excess of billings on long-term contracts 1,600,000
billings in excess of costs on long-term contracts $ 700,000
prepaid taxes 450,000
fixed assets, net 1,480,000
note payable -- noncurrent 1,620,000
common stock 750,000
additional paid-in capital 2,000,000
retained earnings -- unappropriated 900,000
retained earnings -- restricted for note payable 160,000
earnings from long-term contracts 6,680,000
costs and expenses 5,180,000
in mint’s december 31, year 6, balance sheet, what amount should be reported as total current assets?
a. $6,150,000
b. $5,000,000
c. $5,450,000
d. $5,700,000

Insurance companies have internal controls in place to protect assets, monitor the accuracy of accounting records and encourage operational efficiencies and adherence to policies. these internal controls are generally of two types: administrative controls and accounting controls. administrative controls are the policies and procedures that guide the daily actions of employees. accounting controls are the policies and procedures that delineate authorizations of financial transactions that are done, safeguard assets, and provide reports on the company’s financial status in a reliable and timely manner. internal controls should include both preventative and detective controls. the purpose of preventative controls is to stop problems and errors before they occur. detective controls identify problems after they have occurred. preventative controls are usually more effective at reducing problems, but they also tend to be more expensive. internal controls must be flexible to adjust for changes in laws and regulations in addition to adding new products or modifying current ones. companies must also do regular analyses to ensure that the benefits of implementing the controls are worth their costs. when concerned about paying unwarranted insurance claims which type of control would be useful?

Anew 2-lane road is needed in a part of town that is growing. at some point the road will need 4 lanes to handle the anticipated traffic. if the city's optimistic estimate of growth is used, the expansion will be needed in 4 years and has a probability of happening of 40%. for the most likely and pessimistic estimates, the expansion will be needed in 8 and 15 years respectively. the probability of the pessimistic estimate happening is 20%. the expansion will cost $ 4.2 million and the interest rate is 8%. what is the expected pw the expansion will cost?

What is one counter argument to the premise that the wealth gap is a serious problem which needs to be addressed?