Prepare the Balance Sheet from the Adjusted Trial Balance and Statement of Retained Earnings. Within each section of the statement, use the drop-down menus to enter the accounts and select the account balances. Enter any decreases with a minus sign or parentheses. SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2016 Balance Account Title Debit Credit Cash 20,300 Accounts Receivable 11,200 Office Supplies 200 Prepaid Rent 13,500 Furniture 23,700 Accumulated Depreciation--Furniture 8,100 Accounts Payable 2,700 Salaries Payable 600 Interest Payable 400 Unearned Revenue 6,700 Notes Payable 9,500 Common Stock 13,300 Retained Earnings 13,500 Dividends 34,500 Service Revenue 61,400 Depreciation Expense--Furniture 2,700 Interest Expense 400 Rent Expense 4,000 Salaries Expense 4,700 Supplies Expense 1,000 Total 116,200 116,200 SMART TOUCH LEARNING Statement of Retained Earnings Month Ended December 31, 2016 Retained Earnings, December 1, 2016 13,500 Net income for the month 48,600

Alandowner and his neighbor purchased adjoining undeveloped lots. after both built homes on their respective lots, the landowner suggested to the neighbor that a common driveway be built where the two lots joined. the neighbor agreed. the landowner and the neighbor split the cost of constructing the driveway and entered into a written agreement to equally share the costs of its upkeep and maintenance. the agreement was recorded in the county recorder's office. two years later, the neighbor built a new driveway located entirely on his lot. the common driveway, which the landowner continued to use but which the neighbor no longer used, began to deteriorate. the landowner asked the neighbor for money to maintain the common driveway, but the neighbor refused to contribute. three years later, the neighbor conveyed his lot to a friend. the friend entered into possession and used only the driveway built by the neighbor. by this time, the common driveway had deteriorated badly and contained numerous potholes. the landowner asked the friend to pay half of what it would take to repair the common driveway. the friend refused. the landowner repaired the driveway and sued the friend for 50% of the cost of repairs. will the landowner prevail?

Which of the following best explains the purpose of protectionist trade policies such as tariffs and subsidies? a. they make sure that governments have enough money to pay for fiscal policies. b. they give foreign competitors access to new markets around the world. c. they allow producers to sell their products more cheaply than foreign competitors. d. they enable producers to purchase productive resources from everywhere in the world.

What is private equity investing? who participates in it and why? how is palamon positioned in the industry? how does private equity investing compare with public market investing? what are the similarities and differences between the two? why is palamon interested in teamsystem? does it fit with palamon’s investment strategy? how much is 51% of teamsystem’s common equity worth? use both a discounted cash flow and a multiple-based valuation to justify your recommendation. what complexities do cross-border deals introduce? what are the specific risks of this deal? what should louis elson recommend to his partners? is it a go or not? if it is a go, what nonprice terms are important? if it’s not a go, what counterproposal would you make?