Medi Corporation, a manufacturer of ethnic foods, contracted in 2016 to purchase 2,000 pounds of a spice mixture at $5.15 per pound, delivery to be made in May of 2017. By December 31, 2016, the price per pound of the spice mixture had risen to $5.65 per pound. In 2016, Medi should recognizea.

a loss of $1,000.
b. a gain of $1,000.
c. a loss of $10,300.
d. no gain or loss.

Chance company had two operating divisions, one manufacturing farm equipment and the other office supplies. both divisions are considered separate components as defined by generally accepted accounting principles. the farm equipment component had been unprofitable, and on september 1, 2018, the company adopted a plan to sell the assets of the division. the actual sale was completed on december 15, 2018, at a price of $600,000. the book value of the division’s assets was $1,000,000, resulting in a before-tax loss of $400,000 on the sale. the division incurred a before-tax operating loss from operations of $130,000 from the beginning of the year through december 15. the income tax rate is 40%. chance’s after-tax income from its continuing operations is $350,000. required: prepare an income statement for 2018 beginning with income from continuing operations. include appropriate eps disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (amounts to be deducted should be indicated with a minus sign. round eps answers to 2 decimal places.)

Acompany factory is considered which type of resource a.land b.physical capital c.labor d.human capital

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