Bill operates a proprietorship using the cash method of accounting, and this year he received the following: $150 in cash from a customer for services rendered this year a promise from a customer to pay $190 for services rendered this year tickets to a football game worth $225 as payment for services performed last year a check for $180 for services rendered this year that Bill forgot to cash How much income should Bill realize on Schedule C?

Lillypad toys is a manufacturer of educational toys for children. six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. what should lillypad's managers prepare for next? a. increased competition from imitators b. a prolonged period of uncontested success c. a sharp decline in demand for the product d. a difficult struggle to move from invention to innovation