Which of the following is not correct?

a. when a union is present in a labor market, wages may not be determined by the equilibrium of supply and demand.
b. most workers in the u. s. economy are not members of a union.
c. like any cartel, a union is a group of sellers acting together in the hope of exerting their joint market power.
d. when unions raise wages above equilibrium, the quantity of labor supplied decreases, and the quantity of labor demanded increases.

Suppose the following items were taken from the 2017 financial statements of whispering winds corp.. (all dollars are in millions.) common stock $3,230 accumulated depreciation—equipment $3,940 prepaid rent 175 accounts payable 1,560 equipment 6,940 patents 2,270 stock investments (long-term) 670 notes payable (long-term) 780 debt investments (short-term) 1,740 retained earnings 6,175 income taxes payable 150 accounts receivable 1,740 cash 1,290 inventory 1,010 prepare a classified balance sheet in good form as of december 31, 2017. (list current assets in order of liquidity.)