The accountant for Flagger Company prepared the following list of accounting equation element balances from the company's records for the year ended December 31: Fees earned $165,000 Cash $30,000 Accounts receivable 14,000 Selling expenses 44,000 Equipment 42,000 Flagger, capital 36,000 Accounts payable 12,000 Interest income 3,000 Salaries and wages expense 40,000 Rent expense 51,000 Income taxes payable 5,000 Prepaid rent 2,000 Notes payable 20,000 Income taxes expense 18,000 Prepare an Income Statement for Flagger Company in good form. Flagger Company Income Statement For the Year Ended December 31 Revenues: $ $ Expenses: $ Total expenses $

Net operating income = 15000

Explanation:

                                    Flagger  Company

                                     income statement

                                     For the year ended

Fee earned                                                                                 =  165000

less: Operating expense

         Salaries and wages expense 40000

        Rent expense                            51000

                                                                                                    =  (91000)

                                 Gross profit                                                   74000

less: Selling expense                                                                     ( 44000)

          Profit before interest and taxes                                       30000  

less: Interest expense                                                                  (18000)    

                                                                                                      12000

Add: Interest income                                                                   = 3000  

           Net operating income                                                     15000

according to the song of roland, the characteristics of an ideal knight are: loyalty to the king, skilled warriors and horseman, valiant, bold, courageous, strong and proud in battle. they should be determined to fulfil their duties and willing to die to make their people safe.

of the three mortgage options that demarco and tanya have to choose from, the balloon payment mortgage would be their best option, over adjustable payment and fixed payment plans.ultimately, the balloon payment plan would save demarco and tanya overall, in interest, would cost less monthly, and they would only have to make these payments for 8 years, opposing to 30 years for adjustable or fixed payment plans. 

overall, demarco and tanya would save $80,811 if they chose balloon payments over fixed payments, and would save $116,711 if they choose balloon payments over adjustable payments. benefits with choosing fixed payments over adjustable payments is that, in the end, the payments will still be $836.30 a month, while with adjustable payments, the initial monthly payments will be $763.38 to $1082.70 a month, ultimately leading to a more costly purchase. benefits with choosing fixed payments over balloon payments are not present. benefits in choosing adjustable payments over is that it has a lower interest rate, and starts with lower monthly payments initially. benefits in choosing adjustable payments over balloon payments include a lower interest rate, and lower initial monthly payments. benefits in choosing balloon payments over fixed payments include lower interest rates, lower overall price, lower monthly payments, takes less time to pay off, and does not require a downpayment. benefits in choosing balloon payments over adjustable payments include, lower monthly payments (when averaged), takes less time to pay off, and lower overall price.

hence, option c, balloon payments, is the best option for demarco and tanya to make this purchase, for it will save them a minimum of $80811, and a maximum of $116,711.