Presented below is information related to Sheffield Corp. for the year 2020. Net sales $1,456,000 Write-off of inventory due to obsolescence $89,600
Cost of goods sold 873,600 Depreciation expense omitted by accident in 2019 61,600
Selling expenses 72,800 Casualty loss 56,000
Administrative expenses 53,760 Cash dividends declared 50,400
Dividend revenue 22,400 Retained earnings at December 31, 2019 1,097,600
Interest revenue 7,840 Effective tax rate of 20% on all items

Required:
Prepare a multiple-step income statement for 2020. Assume that 62,370 shares of common stock are outstanding.

Suppose that kenji, an economist from an am talk radio program, and lucia, an economist from a school of industrial relations, are arguing over health insurance. the following dialogue shows an excerpt from their debate: lucia: a popular topic for debate among politicians as well as economists is the idea of providing government assistance for health benefits. kenji: i think it is oppressive for the government to tax people who take care of themselves in order to pay for health insurance for those who are obese. lucia: i disagree. i think government funding of health insurance is useful to ensure basic fairness. the disagreement between these economists is most likely due to . despite their differences, with which proposition are two economists chosen at random most likely to agree? lawyers make up an excessive percentage of elected officials. minimum wage laws do more to harm low-skilled workers than them. tariffs and import quotas generally reduce economic welfare.

Vital industries manufactured 2 comma 200 units of its product huge in the month of april. it incurred a total cost of $ 121 comma 000 during the month. out of this $ 121 comma 000, $ 46 comma 000 comprised of direct materials used in the product and the rest was incurred because of the conversion cost involved in the process. ryan had no opening or closing inventory. what will be the total cost per unit of the product, assuming conversion costs contained $ 10 comma 900 of indirect labor?

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