The following is a listing of some of the balance sheet accounts and all of the income statement accounts for Orange Company as they appear on the company’s adjusted trial balance.

Accounts Payable $ 8,000
Accounts Receivable 27,000
Inventory 23,200
Advertising Expense 20,000
Cost of Goods Sold 153,000
Delivery Expense 7,600
Income Tax Expense 4,000
Insurance Expense 1,000
Rent Expense 18,400
Sales Revenue 320,000
Sales Discounts 9,400
Sales Returns & Allowances 43,000

Income from Operations would be:

The uno company was formed on january 2, year 1, to sell a single product. over a 2-year period, uno’s acquisition costs have increased steadily. physical quantities held in inventory were equal to 3 months’ sales at december 31, year 1, and zero at december 31, year 2. assuming the periodic inventory system, the inventory cost method which reports the highest amount for each of the following is inventory december 31, year 1/ cost of sales year 2 a: lifo fifo b: lifo lifo c: fifo fifo d: fifo lifo

Guardian inc. is trying to develop an asset-financing plan. the firm has $450,000 in temporary current assets and $350,000 in permanent current assets. guardian also has $550,000 in fixed assets. assume a tax rate of 40 percent. a. construct two alternative financing plans for guardian. one of the plans should be conservative, with 70 percent of assets financed by long-term sources, and the other should be aggressive, with only 56.25 percent of assets financed by long-term sources. the current interest rate is 12 percent on long-term funds and 7 percent on short-term financing. compute the annual interest payments under each plan.

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. question 1 options: true false