1. The Herfindahl index: Suppose that three firms make up the entire bicycle manufacturing industry. One has a 40% market share, and the other two have a 30% market share each. The Herfindahl index of this industry is ___.
2. Abe's Bikes, one of the firms with a 30% market share in the bicycle manufacturing industry, leaves the market. This would cause the Herfindahl index for the industry to . (rise/remain the same/fall)
3. The largest possible value of the Herfindahl index is 10,000 because:

a. An index of 10,000 corresponds to 100 firms with a 1% market share each.
b. An industry with an index higher than 10,000 is automatically regulated by the Justice Department.
c. An index of 10,000 corresponds to a monopoly firm with 100% market share.

The following balance sheet for the los gatos corporation was prepared by a recently hired accountant. in reviewing the statement you notice several errors. los gatos corporation balance sheet at december 31, 2018 assets cash $ 44,000 accounts receivable 86,000 inventories 57,000 machinery (net) 122,000 franchise (net) 32,000 total assets $ 341,000 liabilities and shareholders' equity accounts payable $ 54,000 allowance for uncollectible accounts 7,000 note payable 59,000 bonds payable 112,000 shareholders' equity 109,000 total liabilities and shareholders' equity $ 341,000 additional information: cash includes a $22,000 restricted amount to be used for repayment of the bonds payable in 2022. the cost of the machinery is $194,000. accounts receivable includes a $22,000 note receivable from a customer due in 2021. the note payable includes accrued interest of $7,000. principal and interest are both due on february 1, 2019. the company began operations in 2013. income less dividends since inception of the company totals $37,000. 52,000 shares of no par common stock were issued in 2013. 200,000 shares are authorized. required: prepare a corrected, classified balance sheet. (amounts to be deducted should be indicated by a minus sign.)

1. gar principles or "the principles"are intended to do what?

Highland company produces a lightweight backpack that is popular with college students. standard variable costs relating to a single backpack are given below