In its income statement for the year ended december 31, 2017, darren company reported the following condensed data. salaries and wages expense $465,000 loss on disposal of plant assets $ 83,500 cost of goods sold 987,000 sales revenue 2,210,000 interest expense 71,000 income tax expense 25,000 interest revenue 65,000 sales discounts 160,000 depreciation expense 310,000 utilities expense 110,000 instructions (a) prepare a multiple‐step income statement. (b) calculate the profit margin and gross profit rate. (c) in 2016, darren had a profit margin of 5%. is the decline in 2017 a cause for concern? (ignore income tax effects.)

Compare the sources of consumer credit(there's not just one answer)1. consumers use a prearranged loan using special checks2. consumers use cards with no interest and non -revolving balances3. consumers pay off debt and credit is automatically renewed4. consumers take out a loan with a repayment date and have a specific purposea. travel and entertainment creditb. revolving check creditc. closed-end creditd. revolving credit

Do it! review 16-3 the assembly department for right pens has the following production data for the current month. beginning work in process units transferred out ending work in process 0 22,500 16,000 materials are entered at the beginning of the process. the ending work in process units are 70% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs. materials conversion costs the equivalent units of production

Tl & co. is following a related-linked diversification strategy, and soar inc. is following a related-constrained diversification strategy. how do the two firms differ from each other? a. soar inc. generates 70 percent of its revenues from its primary business, while tl & co. generates only 10 percent of its revenues from its primary business. b. soar inc. pursues a backward diversification strategy, while tl & co. pursues a forward diversification strategy. c. tl & co. will share fewer common competencies and resources between its various businesses when compared to soar inc. d. tl & co. pursues a differentiation strategy, and soar inc. pursues a cost-leadership strategy, to gain a competitive advantage.