Novak co. decides at the beginning of 2017 to adopt the fifo method of inventory valuation. novak had used the lifo method for financial reporting since its inception on january 1, 2015, and had maintained records adequate to apply the fifo method retrospectively. novak concluded that fifo is the preferable inventory method because it reflects the current cost of inventory on the balance sheet. the following table presents the effects of the change in accounting principles on inventory and cost of goods sold. inventory determined by cost of goods sold determined bydatelifo methodfifo methodlifo methodfifo methodjanuary 1, 2015 $ 0 $ 0 $ 0 $ 0december 31, 2015 110 9 750 851december 31, 2016 200 260 940 779december 31, 2017 320 400 1,150 1,130retained earnings reported under lifo are as follows. retained earnings balancedecember 31, 2015 $1,090 december 31, 2016 1,990 december 31, 2017 2,680 other information: 1. for each year presented, sales are $2,770 and operating expenses are $930.2. novak provides two years of financial statements. earnings per share information is not required. a.prepare income statements under lifo for 2015, 2016, and 2017.b. prepare income statements under fifo for 2015, 2016, and 2017.c. prepare income statements reflecting the retrospective application of the accounting change from the lifo method to the fifo method for 2017 and 2016.d. prepare comparative retained earnings statements for 2016 and 2017 under fifo.

1) u.s. real gdp is substantially higher today than it was 60 years ago. what does this tell us, and what does it not tell us, about the well-being of u.s. residents? what are the limitations of the gdp as a measure of economic well-being? given the limitations, why is gdp usually regarded as the best single measure of a society’s economic well-being? 2) what is an intermediate good? how does an intermediate good differ from a final good? explain why it is the case that the value of intermediate goods produced and sold during the year is not included directly as part of gdp, but the value of intermediate goods produced and not sold is included directly as part of gdp.

Eagle sporting goods reported the following data at july ​31, 2016​, with amounts adapted in​ thousands: ​(click the icon to view the income​ statement.) ​(click the icon to view the statement of retained​ earnings.) ​(click the icon to view the balance​ sheet.) 1. compute eagle​'s net working capital. 2. compute eagle​'s current ratio. round to two decimal places. 3. compute eagle​'s debt ratio. round to two decimal places. do these values and ratios look​ strong, weak or​ middle-of-the-road? 1. compute eagle​'s net working capital. total current assets - total current liabilities = net working capital 99400 - 30000 = 69400 2. compute eagle​'s current ratio. ​(round answer to two decimal​ places.) total current assets / total current liabilities = current ratio 99400 / 30000 = 3.31 3. compute eagle​'s debt ratio. ​(round answer to two decimal​ places.) total liabilities / total assets = debt ratio 65000 / 130000 = 0.50 do these ratio values and ratios look​ strong, weak or​ middle-of-the-road? net working capital is ▾ . this means ▾ current assets exceed current liabilities current liabilities exceed current assets and is a ▾ negative positive sign. eagle​'s current ratio is considered ▾ middle-of-the-road. strong. weak. eagle​'s debt ratio is considered ▾ middle-of-the-road. strong. weak. choose from any list or enter any number in the input fields and then continue to the next question.

Chuck, a single taxpayer, earns $80,750 in taxable income and $30,750 in interest from an investment in city of heflin bonds. (use the u.s. tax rate schedule.) (do not round intermediate calculations. round your answers to 2 decimal places.)