A summary of selected ledger accounts appears below for Solomon’s Electrical Services for the current calendar year-end. Common Stock 12/31 8,500 1/1 90,000 12/31 30,000 Retained Earnings 12/31 5,000 1/1 62,000 12/31 18,000 Dividends 3/31 2,500 12/31 5,000 9/30 2,500 The $18,000 debit to Retained Earnings on December 31 must represent a. net income b. net loss c. sales of common stock d. dividends paid

The distinction between a normal and an inferior good is

The leading producer of cell phone backup batteries, jumpstart, has achieved great success because they produce high-quality battery backups that are not too expensive. even so, another company that produces lower-quality batteries at the same price has also achieved some success, but not as much as jumpstart. also, in general, the price of backup batteries has declined because of economies of scale and learning. in addition, jumpstart has added complementary assets, such as a carrying case. considering all of these factors, the backup battery industry is most likely in the introduction stage. growth stage. shakeout stage. maturity stage.

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