During 2015, rainbow umbrella corp. had sales of $730,000. cost of goods sold, administrative and selling expenses, and depreciation expenses were $450,000, $90,000, and $160,000, respectively. in addition, the company had an interest expense of $92,000 and a tax rate of 35 percent. (ignore any tax loss carryback or carryforward provisions.)

a. what is the company's net income for 2015?

Telecom co. enters into a two-year contract with a customer to provide wireless service (voice and data) for $40 per month. to induce customers, telecom co. provides a free phone. telecom co. normally sells the phone on a stand-alone basis for $200. telecom co. also charges the customer a one-time activation fee of $35.which of the following is true? a) there are two distinct performance obligations: the voice service and the data service b) the free phone constitutes as a marketing expense c) the activation fee is a separate performance obligationd) there are two distinct performance obligations: the wireless services and the phone