Lucy and zehmer met while having drinks in a restaurant. during the course of their conversation, lucy apparently offered to buy zehmer's 471.6-acre farm for $50,000 cash. although zehmer claims that he thought the offer was made in jest, he wrote the following on the back of a pad: “we hereby agree to sell to w. o. lucy the ferguson farm complete for $50,000, title satisfactory to buyer.” zehmer then signed the writing and induced his wife ida to do the same. she claims, however, that she signed only after zehmer assured her that it was only a joke. finally, zehmer claims that he was “high as a georgia pine” at the time but admits that he was not too drunk to make a valid contract. explain whether the contract is enforceable.

What impact might an economic downturn have on a borrower’s fixed-rate mortgage? a. it might cause a borrower’s payments to go up. b. it might cause a borrower’s payments to go down. c. it has no impact because a fixed-rate mortgage cannot change. d. it has no impact because the economy does not affect interest rates.

“strategy, plans, and budgets are unrelated to one another.” do you agree? explain. explain how the manager’s choice of the type of responsibility center (cost, revenue, profit, or investment) affects the behavior of other employees.

Exercise 4-9presented below is information related to martinez corp. for the year 2017.net sales $1,399,500 write-off of inventory due to obsolescence $80,440cost of goods sold 788,200 depreciation expense omitted by accident in 2016 43,600selling expenses 65,800 casualty loss 53,900administrative expenses 53,500 cash dividends declared 43,300dividend revenue 22,100 retained earnings at december 31, 2016 1,042,400interest revenue 7,420 effective tax rate of 34% on all items exercise 4-9 presented below is information relateexercise 4-9 presented below is information relate prepare a multiple-step income statement for 2017. assume that 61,500 shares of common stock are outstanding. (round earnings per share to 2 decimal places, e.g. 1.49.)prepare a separate retained earnings statement for 2017. (list items that increase retained earnings first.)