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A summary of the operations of XYZ Inc. for the year endedMay 31, 2006, is shown below.Advertising expense . . . . . . . . . $ 2,760Supplies expense . . . . . . . . . . . 37,820Rent expense . . . . . . . . . . . . . 1,500Salaries expense . . . . . . . . . . . 18,150Miscellaneous expense . . . . . . . 4,170Dividends . . . . . . . . . . . . . . 12,400Retained earnings (6/1/05) . . . . . 156,540Income taxes . . . . . . . . . . . . . 21,180Consulting fees (revenues) . . . . 115,100Administrative expense . . . . . . . 7,250Required:a. Determine the net income for the year by preparing an income statement. (There are 2,000 shares of stock outstanding.)b. Prepare a statement of retained earnings for the year ended May 31, 2006.c. Prepare a statement of retained earnings assuming that XYZ Inc. had a net loss for the year of $25,000.d. Assuming a loss as in (3), is it a good idea for XYZ Inc. to still pay its shareholders dividends?
Plot both together on a supply-demand graph. Calculate the equilibrium P and Q, and show them on your graph as well. Also calculate CS (consumer surplus) at the equilibrium.
Elucidate the bumper harvest increase or decrease the total revenue of American wheat farmers. How could you have predicted this from your answer to part a.
Are there any examples which you can think of where you, personally, would not experience diminishing marginal utility.
Compute the four-firm concentration ratio (C4) before the merger. Show your work and round your answer to 4 decimal places.
Discuss the changing economic variables in China that influenced McDonald's expansion strategies.
Illustrate what were the percentage changes in nominal GDP and real GDP for the most recent quarter? What accounts for the difference.
The Lexus LS 430, the top of the line Lexus sedan, riad a base price in Canada of C$85,700 during the fall of 2005. Restated in US dollars using the exchange rate prevailing then, that price is $71,885.
From this information, can you devise a general rule explaining how the Herfindahl-Hirschman index is affected when exactly two firms in the market merge? (Hint: compare a2 + b2 with (a + b) 2)
Make sure to discuss how Facebook has both impacted and been impacted by the technological and other changes that comprise a low-friction economy as well as in terms of supply and demand.
Compute the ideas of the Classical economists with the ideas of John Maynard Keynes, and explain what kind of revolution the Keynesian revolution was.
Mention and describe the three theories for why the short-run aggregate-supply curve is upward sloping.
Illustrate what policy actions have the Federal Reserve taken to confirm that direction.
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