Condensed financial data of Splish Brothers Inc. follow. Splish Brothers Inc. Comparative Balance Sheets December 31 Assets 2020 2019 Cash $ 116,800 $ 48,100 Accounts receivable 92,000 32,300 Inventory 111,800 102,000 Prepaid expenses 29,200 25,200 Investments 139,100 113,000 Equipment 265,400 242,300 Accumulated depreciation-equipment ( 47,900 ) ( 51,400 ) Total $ 706,400 $ 511,500 Liabilities and Stockholders’ Equity Accounts payable $ 111,600 $ 68,000 Accrued expenses payable 16,300 17,100 Bonds payable 112,600 149,000 Common stock 220,100 176,000 Retained earnings 245,800 101,400 Total $ 706,400 $ 511,500 Splish Brothers Inc. Income Statement For the Year Ended December 31, 2020 Sales revenue $ 391,900 Less: Cost of goods sold $ 135,500 Operating expenses, excluding depreciation 11,100 Depreciation expense 33,200 Income tax expense 27,500 Interest expense 4,700 Loss on disposal of plant assets 7,500 219,500 Net income $ 172,400 Additional information: 1. New equipment costing $ 80,200 was purchased for cash during the year. 2. Old equipment having an original cost of $ 57,100 was sold for $ 12,900 cash. 3. Bonds matured and were paid off at face value for cash. 4. A cash dividend of $ 28,000 was declared and paid during the year. Prepare a statement of cash flows using the indirect method.

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.

Mr. smith recently faced a choice between being (a) an economics profes-sor, which pays $60,000/yr, or (b) a safari leader, which pays $50,000/yr. after careful deliberation, smith took the safari job, but it was a close call. "for a dollar more," he said, "i'd have gone the other way."now smith's brother-in-law approaches him with a business proposition. the terms are as follows: - smith must resign his safari job to work full-time in his brother-in-law's business.- smith must give his brother-in-law an interest-free loan of $100,000, which will be repaid in full if and when smith leaves the business. (smith currently has much more than $100,000 in the the business will pay smith a salary of $70,000/yr. he will receive no other payment from the business.the interest rate is 10 percent per year. apart from salary considerations, smith feels that working in the business would be just as enjoyable as being an economics professor. for simplicity, assume there is no uncertainty regarding either smith's salary in the proposed business or the security of his monetary investment in it. should smith join his brother-in-law and, if so, how small would smith's salary from the business have to be to make it not worthwhile for him to join? if not, how large would smith's salary from the business have to be to make it worthwhile for him to join?

Dyed-denim corporation is seeking to lower the costs of value creation and achieve a low-cost position. as a result, it plans to move its manufacturing plant from the u.s. to thailand, which based on company research, is the optimal location for production. this strategic move will most likely allow the company to realize