Corrected income statement for each quarter
Particulars First Quarter Second Quarter
Sales Revenue 12200 18800
Cost of goods sold
Beginning inventory 4100 4030
Purchases 3100 12700
Goods available for sale 7200 16730
Ending inventory 4030 9000
Cost of goods sold 3170 7730
Gross profit 9030 11070
Operating expenses 4800 5700
Pretax income 4230 5370
The income statement is one of the most common and important financial statements. The income statement, also known as the income statement (P&L), summarizes all income and expenses over a period of time, including the cumulative impact of income, profits, expenses, and loss transactions. The basic formula for the income statement is Income - Expenses = Net Income.
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Answer:
excess supply
Explanation:
If price is higher than equilibrium price, quantity demanded would fall while quantity supplied would increase. This is in line with the law of demand and supply
according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
This accounts for why the supply curve is positively sloped.
Answer:
Productivity rises more quickly when countries produce goods and services for which they have a natural talent.
Explanation:
This is the best option with the theory of comparative advantage states countries produce goods for which they have a lower opportunity cost. Having resources and talents lower the opportunities cost. When countries do this, it increases economic welfare for all.
<span>In digital systems, the information rate and the capacity of a digital channel are measured in: BPS
BPS stands for Bytes per second. It is used as a measurement for the amount of data size transferred from one medium to another. Higher transfer rate will lead to better performance in electronic gadgets</span>