During 2018, peoria airlines paid salary expense of $ 40.8 million. at december 31, 2018, peoria accrued salary expense of $ 2.3 million. peoria then paid $ 2.6 million to its employees on january 3, 2019, the company's next payday after the end of the 2018 year. for this sequence of transactions, show what peoria would report on its 2018 income statement and on its balance sheet at the end of 2018.

Royal motor corp. generates a major portion of its revenues by manufacturing luxury sports cars. however, the company also derives an insignificant percent of its annual revenues by selling its sports merchandise that includes apparel, shoes, and other accessories under the same brand name. which of the following terms best describes royal motor corp.? a. aconglomerate b. a subsidiary c. adominant-businessfirm d. a single-business firm