Salvatore, an investor-broker, earns $195,000 from his practice in the current year. he receives $35,000 in dividends and interest during the year. in addition, he incurs a loss of $18,000 from an investment in a passive activity acquired three years ago. after considering the passive investment, salvatore's net income for the current year is $

Down under products, ltd., of australia has budgeted sales of its popular boomerang for the next four months as follows: unit salesapril 74,000may 85,000june 114,000july 92,000the company is now in the process of preparing a production budget for the second quarter. past experience has shown that end-of-month inventory levels must equal 10% of the following month’s unit sales. the inventory at the end of march was 7,400 units.required: prepare a production budget by month and in total, for the second quarter.