Or each scenario, calculate the income elasticity of demand, determine whether the good is inferior or normal, and classify the good's income elasticity. when calculating the income elasticity of demand, use the midpoint formula. round your answers to the nearest hundredth. sylvia's annual salary increases from $102,300 to $109,500, and she decides to increase the number of vacations she takes per year from three to four. calculate her income elasticity of demand for vacations.

Frost corporation incurred the following transactions during its first year of operations. (assume all transactions involve cash.) 1) acquired $1,900 of capital from the owners. 2) purchased $435 of direct raw materials. 3) used $290 of these direct raw materials in the production process. 4) paid production workers $490 cash. 5) paid $290 for manufacturing overhead (applied and actual overhead are the same). 6) started and completed 250 units of inventory. 7) sold 140 units at a price of $6 each. 8) paid $130 for selling and administrative expenses. the amount of raw material inventory on the balance sheet at the end of the accounting period would be: