Abottling company uses two inputs to produce bottles of the soft drink sludge: bottling machines (k) and workers (l). the isoquants have the usual smooth shape. the machines cost $1,000 per day to run (r), and the workers earn $200 per day (w). at the current level of production, the marginal product of machines (mp subscript upper k) is an additional 316 bottles per day, and the marginal product of labor (mp subscript upper l) is 39 more bottles per day. is this firm producing at minimum cost? if it is minimizing cost, explain why. if it is not minimizing cost, explain how the firm should change the ratio of inputs it uses to lower its cost.

Listed below are several transactions that took place during the first two years of operations for the law firm of pete, pete, and roy.year 1 year 2amounts billed to clients for services rendered $ 170,000 $ 220,000 cash collected from clients 160,000 190,000 cash disbursements salaries paid to employees for services rendered during the year 90,000 100,000 utilities 30,000 40,000 purchase of insurance policy 60,000 0 in addition, you learn that the company incurred utility costs of $35,000 in year 1, that there were no liabilities at the end of year 2, no anticipated bad debts on receivables, and that the insurance policy covers a three-year period.required: 1. & 3. calculate the net operating cash flow for years 1 and 2 and determine the amount of receivables from clients that the company would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model.2. prepare an income statement for each year according to the accrual accounting model.