Answer:
a. Total net revenue:
= Sales revenue - Sales discounts - Sales returns + Rent revenue + Dividend revenue
= 410,000 - 7,930 - 12,560 + 6,610 + 71,490
= $467,610
b. Net income:
= Total net revenue - Cost of goods sold - Interest expense - selling expenses - income tax expense - administrative expenses
= 467,610 - 179,854 - 13,420 - 99,440 - 28,935 - 75,280
= $70,681
c. Dividends declared:
= Beginning Retained earnings + Net income - Ending Retained earnings
= 114,500 + 70,681 - 134,260
= $50,921
d. Income attributable to controlling shareholders:
= Net income - non-controlling interest:
= 70,681 - 19,240
= $51,441
Answer:
Based on the information supply of cards is more elastic (price sensitive) than that of roses
Explanation:
Price elasticity of supply is defined as the sensitivity of quantity supplied to changes in price.
The formula is given below
Price elasticity of supply= Change in quantity supplied ÷ Change in price
In this scenario the demand for both roses and cards increases, however the price of roses increases more.
This implies that the denominator in the formula is higher in roses resulting in smaller price elasticity of supply.
The elasticity of supply for cards is higher than that of roses, so it is more sensitive to changes in price.
Cards can be stored from year to year so the labour for maintaining a stock of cards is low with resultant low price.
On the other hand roses require care to grow. It requires watering, application of chemicals to treat infestation and so on. So suppliers tend to push the extra cost of growing roses to the buyers
Because the additional output is produced with an increasing input in the production signals an example of <u>diminishing returns</u> to specialization.
<h3>What is a
diminishing returns?</h3>
A diminishing returns to specialization is known to occurs if more units of resources are required to produce each additional unit.
In conclusion, the additional output which is produced with an increasing input in the production is an example of <u>diminishing returns</u> to specialization.
Read more about diminishing returns
<em>brainly.com/question/14966527</em>
Based on the economic theory of demand and supply, Say's Law argues that a given "<u>value of supply"</u> must create an equivalent "<u>value of demand</u>" somewhere else in the economy.
This is based on the idea that supply would deduce the size of the macro-economy, which in turn makes sense in the long run.
Jean Baptiste Say is a French economist famous for being an adherent supporter of business competition, free trade, and removing restraints on business activities.
His Say's law was famous as it tried to define the market condition. Say's law is sometimes referred to as the <u>Law of</u> <u>Market</u>.
Hence, in this case, it is concluded that the correct answer is option D. "<u>value of supply; the value of demand."</u>
Learn more here: brainly.com/question/16920124
