The following transactions have been journalized and posted to the proper accounts: 1. Mark Call invested $7,000 cash in his new design services business. 2. The business pre-paid the first month's rent of $700 cash. 3. The business purchased equipment by paying $2,000 cash and issuing a note payable for $4,500. 4. The business purchased supplies for $850 cash. 5. The business billed a client for $4,000 of design services completed. 6. The business received $3,000 cash for the completed services. What is the balance in Cash for this design service business

Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.