The following items were among those that were reported on Wildhorse Co.'s income statement for the year ended December 31, 2020: Legal and audit fees $589000 Rent for office space 712000 Interest expense 850000 Loss on abandoned equipment used in operations 139500 The office space is used equally by Wildhorse's sales and accounting departments. What amount of the above-listed items should be classified as general and administrative expenses in Wildhorse's multiple-step income statement?

Lillypad toys is a manufacturer of educational toys for children. six months ago, the company's research and development division came up with an idea for a unique touchscreen device that can be used to introduce children to a number of foreign languages. three months ago, the company produced a working prototype, and last month the company successfully launched its new device on the commercial market. what should lillypad's managers prepare for next? a. increased competition from imitators b. a prolonged period of uncontested success c. a sharp decline in demand for the product d. a difficult struggle to move from invention to innovation