Afirm has $50 million in assets and its optimal capital structure is 60% equity. if the firm has $12 million in retained earnings available to invest, at what asset level will the firm need to issue additional stock? (assume no growth in retained earnings.)a. the firm should have already issued additional stock. b. the firm can increase assets by $30 million. c. the firm can increase assets by $20 million. d. there is insufficient information to determine an answer.

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.