Fallow Corporation has two separate profit centers. The following information is available for the most recent year: West Division East Division Sales (net) $270,000 $420,000 Salary expense 33,000 47,000 Cost of goods sold 101,000 203,000 The West Division occupies 6,750 square feet in the plant. The East Division occupies 4,050 square feet. Rent, which was $ 54,000 for the year, is an indirect expense and is allocated based on square footage. Compute operating income for the West Division.

Why does an organization prepare a balance sheet? a. to reveal what the organization owns and owes at a point in time b. to reveal how well the company utilizes its cash c. to calculate retained earnings for a given accounting period d. to calculate gross profit for a given accounting period

True or flase? a. new technological developments can us adapt to depleting sources of natural resources. b. research and development funds from the government to private industry never pay off for the country as a whole; they only increase the profits of rich corporations. c. in order for fledgling industries in poor nations to thrive, they must receive protection from foreign trade. d. countries with few natural resources will always be poor. e. as long as real gdp (gross domestic product) grows at a slower rate than the population, per capita real gdp increases.

The green revolution is a scientific breakthrough that improved seeds for basic crops. how did the green revolution impact the supply of basic crops such as wheat and corn? the supply of wheat and corn increased. there was no impact on the supply of basic crops. the supply of basic crops did not change, but the quantity supplied of basic crops increased. the supply of wheat and corn decreased.