The article discusses how it is good to be near a trading partner—especially a rich trading partner—for two reasons: a) it is cheaper to trade with a close trading partner than one that is far away and b) a rich trading partner offers more opportunities for trade than a poor one. as the article points out, germany benefits as the neighboring country, france, becomes wealthier.
consistent with this argument, the states on the west coast of the united states have seen rapid economic growth as
east asia has experienced rapid economic growth.
2-in contrast, states along the east coast should see slow economic growth and possibly even a decline as the economy of
europe stagnates.

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?