Let's go back to explaining the survey data in which 60 % chose Edwards over Obama, 60 % chose Edwards over Clinton, 60% chose Clinton over Obama and then when asked to cast a one of the three candidates, 45 % chose Clinton, 30 % Obama, and 25% Edwards. single vote for (1) Prove that it is not possible that all voters are rational (have transitive preferences.) (2) Suppose now that the distribution of votes was not 45% chose Clinton, 30% Obama , and 25 % Edwards but 38% Clinton, 32% Obama and 30% Edwards; pairwise data remains unchanged. Prove that it is possible now that all voters are rational (have transitive preferences) and calculate the percentage of votes for each of the six different orderings of the three candidates.

Exercise 4-9presented below is information related to martinez corp. for the year 2017.net sales $1,399,500 write-off of inventory due to obsolescence $80,440cost of goods sold 788,200 depreciation expense omitted by accident in 2016 43,600selling expenses 65,800 casualty loss 53,900administrative expenses 53,500 cash dividends declared 43,300dividend revenue 22,100 retained earnings at december 31, 2016 1,042,400interest revenue 7,420 effective tax rate of 34% on all items exercise 4-9 presented below is information relateexercise 4-9 presented below is information relate prepare a multiple-step income statement for 2017. assume that 61,500 shares of common stock are outstanding. (round earnings per share to 2 decimal places, e.g. 1.49.)prepare a separate retained earnings statement for 2017. (list items that increase retained earnings first.)