Answer:
Income Statement
Sales $7.500
Salaries expense -$1.300
Utilities expense -$1.100
Net Income 5.100
Explanation:
Manufacturing and Industry has significantly boosted China's economy.
The correct answer is allocates resources efficiently and allows economic freedom.
The market system of economics is one where economic decisions and the pricing of goods and services are guided solely by supply and demand and there is limited to no government interaction in the economy. Because of this, two major virtues of the market system are that it allocates resources efficiently and allows economic freedom.
Purchases = Sales units + Closing inventory - Beginning Inventory
= 6,000 + (1,000 * 115%) - 1,000
= 6,150 units