Powell Company began the Year 2 accounting period with $18,200 cash, $60,700 inventory, $49,300 common stock, and $29,600 retained earnings. During Year 2, Powell experienced the following events: Sold merchandise that cost $37,900 for $75,900 on account to Prentise Furniture Store. Delivered the goods to Prentise under terms FOB destination. Freight costs were $380 cash. Received returned goods from Prentise. The goods cost Powell $1,930 and were sold to Prentise for $3,980. Granted Prentise a $1,100 allowance for damaged goods that Prentise agreed to keep. Collected partial payment of $53,400 cash from accounts receivable. c. Prepare an income statement, balance sheet, and statement of cash flows. (Statement of Cash Flows only, items to be deducted must be indicated with a negative amount.)

The market for corn in country a is highly competitive. at the current market price of $5/bushel there is a shortage of 100,000 bushels of corn in this country. media reports claim that the price of corn will rise drastically in the near future. according to these reports, the neighboring country b had witnessed a similar situation recently. at the same price, the shortage in country b was also 100,000 bushels and eventually the equilibrium price in b went up to $10/bushel. both countries are known to have equal number of corn producers and the market supply of corn is identical at all prices. this, combined with the fact that consumers in the two countries also have similar tastes and preferences, led the media to conclude that the price of corn in country a would soon be as high as $10/bushel. the new equilibrium price turns out to be below $10/bushel, what inferences can be drawn?

At cooly cola, we are testing the appeal of our new diet one cola. in a taste test of 250 randomly chosen cola drinkers, 200 consumers preferred diet one cola to the leading brand. assuming that the sample were large enough, the large-sample 95% confidence interval for the population proportion of cola drinkers that prefer diet one cola would be:

Slimwood corporation made sales of $ 725 million during 2018. of this amount, slimwood collected cash for $ 670 million. the company's cost of goods sold was $ 300 million, and all other expenses for the year totaled $ 400 million. also during 2018, slimwood paid $ 420 million for its inventory and $ 285 million for everything else. beginning cash was $ 110 million. carter's top management is interviewing you for a job and they ask two questions: (a) how much was carter's net income for 2018? (b) how much was carter's cash balance at the end of 2016? you will get the job only if you answer both questions correctly.