Adrian was awarded an academic scholarship to state university for the 2015-2016 academic year. he received $6,500 in august and $7,200 in december 2015. adrian had enough personal savings to pay all expenses as they came due. adrian’s expenditures for he relevant period are as follows:
tuition, august 2014: $3,700
tuition, january 2015: $3,750
room and board:
august-december 2014: $2,800
january-may 2015: $2,500
books and educational supplies:
aug-dec 2014: 1,000
jan-may 2015: $1,200
determine the effect on adrian's gross income for 2015 and 2016.
regarding adrian's scholarship, indicate whether the following statements are "true" or "false".
a. when adrian received the money in 2016, his total expenses for the academic year were not known. therefore, he is allowed to defer reporting the income until 2017, when the uncertainty is resolved.
true
b. the amount adrian spent on tuition, books, and educational supplies in 2017 will not be excludible, since the scholarship was awarded in 2016.
false
c. adrian may exclude from gross income the amount used for tuition, books, and educational supplies in 2016 and 2017.
true
d. the amount adrian spent on room and board is excludible.
false
what amount, if any, must adrian include in his gross income for 2016 and 2017? if an amount is zero, enter "0".
2016: $x
2017: $x

Resources and capabilities, such as interpersonal relations among managers and a firm's culture, that may be costly to imitate because they are beyond the ability of firms to systematically manage and influence are referred to asanswers: socially complex.causally ambiguous.path dependent.the result of unique historical conditions.

Balance sheet baggett company's balance sheet accounts and amounts as of december 31, 2016, are shown in random order as follows: account debit (credit) account debit (credit) income taxes payable $(3,800) additional paid-in capital on preferred prepaid items 1,800 stock $(7,900) additional paid-in capital on common stock (9,300) allowance for doubtful accounts (1,600) land 12,200 bonds payable (due 2020) (23,000) notes payable (due 2019) (6,000) buildings 57,400 notes receivable (due 2018) 16,400 sinking fund to retire bonds payable 5,000 accounts receivable 12,600 advances from customers (long-term) (2,600) premium on bonds payable (1,400) cash 4,300 accounts payable (13,100) accumulated depreciation: equipment (9,700) inventory 7,400 retained earnings (18,300) accumulated depreciation: buildings (21,000) preferred stock, $100 par (18,600) patents (net) 4,600 wages payable (1,400) equipment 28,700 common stock, $10 par (12,700) required: 1. prepare a december 31, 2016 balance sheet for the baggett. baggett company balance sheet december 31, 2016 assets current assets: $ $ $ long-term investments: $ property, plant, and equipment: $ $ $ intangible assets: liabilities current liabilities: $ $ long-term liabilities: $ $ other liabilities: shareholders' equity contributed capital: $ $ $ $ 2. compute the debt-to-assets ratio. round to one decimal place. do not enter a percent sign (%) as part of your answer. %

Newton industries is considering a project and has developed the following estimates: unit sales = 4,800, price per unit = $67, variable cost per unit = $42, annual fixed costs = $11,900. the depreciation is $14,700 a year and the tax rate is 34 percent. what effect would an increase of $1 in the selling price have on the operating cash flow?