Use your knowledge of income statements and common-size statements, what is the operating income amount in the common-size statement based on the information below? (Choose the nearest value)

Income Common-size Statement Statement

Gross profit $729,000 25.34594%
General and administrative expense $250,000 8.69202%
Selling and marketing expense $140,000 4.86753%
Depreciation $110,000 3.82449%
Interest $132,000 4.58939%
Income taxes (25%) $24,250 0.84313%

a. 7.96%

b.3.37%

c. 2.53%

d. 8.68%

On june 1 of the current year, chad wilson established a business to manage rental property. he completed the following transactions during june: opened a business bank account with a deposit of $28,000 from personal funds. purchased office supplies on account, $2,690. received cash from fees earned for managing rental property, $7,390. paid rent on office and equipment for the month, $3,310. paid creditors on account, $1,230. billed customers for fees earned for managing rental property, $6,130. paid automobile expenses (including rental charges) for the month, $740, and miscellaneous expenses, $370. paid office salaries, $2,330. determined that the cost of supplies on hand was $1,590; therefore, the cost of supplies used was $1,100. withdrew cash for personal use, $2,210. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300) answer

Gamegirl inc., has the following transactions during august. august 6 sold 76 handheld game devices for $230 each to ds unlimited on account, terms 2/10, net 60. the cost of the 76 game devices sold, was $210 each. august 10 ds unlimited returned six game devices purchased on 6th august since they were defective. august 14 received full amount due from ds unlimited. required: prepare the transactions for gamegirl, inc., assuming the company uses a perpetual inventory syste

What are the weak points of economic costs that are part of a free enterprise economy?