The following are selected ledger accounts of Coronado Corporation at December 31, 2020. Cash $207,200 Salaries and wages expense (sales) $318,080 Inventory 599,200 Salaries and wages expense (office) 387,520 Sales revenue 4,788,000 Purchase returns 16,800 Unearned sales revenue 131,040 Sales returns and allowances 88,480 Purchases 3,120,320 Freight-in 80,640 Sales discounts 38,080 Accounts receivable 159,600 Purchase discounts 30,240 Sales commissions 92,960 Selling expenses 77,280 Telephone and Internet expense (sales) 19,040 Accounting and legal services 36,960 Utilities expense (office) 35,840 Insurance expense (office) 26,880 Miscellaneous office expenses 8,960 Advertising expense 60,480 Rent revenue 268,800 Delivery expense 104,160 Casualty loss (before tax) 78,400 Depreciation expense (office equipment) 53,760 Interest expense 197,120 Depreciation expense (sales equipment) 40,320 Common stock ($10 par) 650,720 Coronado’s effective tax rate on all items is 20%. A physical inventory indicates that the ending inventory is $686,000. Prepare a condensed 2020 income statement for Coronado Corporation.

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The price of trade suppose that portugal and sweden both produce rye and wine. portugal's opportunity cost of producing a bottle of wine is 4 bushels of rye while sweden's opportunity cost of producing a bottle of wine is 10 bushels of rye. by comparing the opportunity cost of producing wine in the two countries, you can tell thatportugal/sweden has a comparative advantage in the production of wine.andportugal/sweden has a comparative advantage in the production of rye. suppose that portugal and sweden consider trading wine and rye with each other. portugal can gain from specialization and trade as long as it receives more rye for each bottle of wine it exports to sweden. similarly, sweden can gain from trade as long as it receives more bottles of wine for each bushel of rye it exports to portugal. based on your answer to the last question, which of the following prices of trade (that is, price of wine in terms of rye) would allow both sweden and portugal to gain from trade? a. 1 bushels of rye per bottle of wineb. 8 bushels of rye per bottle of winec. 9 bushels of rye per bottle of wined. 3 bushels of rye per bottle of wine

Steele bicycle manufacturing company currently produces the handlebars used in manufacturing its bicycles, which are high-quality racing bikes with limited sales. steele produces and sells only 10,000 bikes each year. due to the low volume of activity, steele is unable to obtain the economies of scale that larger producers achieve. for example, steele could buy the handlebars for $31 each: they cost $34 each to make. the following is a detailed breakdown of current production costs: after seeing these figures, steele's president remarked that it would be foolish for the company to continue to produce the handlebars at $34 each when it can buy them for $31 each. calculate the total relevant cost. do you agree with the president's conclusion?