Suppose that past experience shows that about 12% of passengers who are scheduled to take a particular flight fail to show up. For this reason, airlines sometimes overbook flights, selling more tickets than they have seats, with the expectation that they will have some no shows. Suppose an airline uses a small jet with seating for 30 passengers on a regional route and assume that passengers are independent of each other in whether they show up for the flight. Suppose that the airline consistently sells 32 tickets for every one of these flights.

Required:
a. What is the probability of having overbooked flight?
b. What is the expected amount of cost to compensate the overbooked flight?

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.)

Comparative financial statements for weller corporation, a merchandising company, for the year ending december 31 appear below. the company did not issue any new common stock during the year. a total of 800,000 shares of common stock were outstanding. the interest rate on the bonds, which were sold at their face value, was 12%. the income tax rate was 40% and the dividend per share of common stock was $0.40 this year. the market value of the company's common stock at the end of the year was $18. all of the company's sales are on account. time interest earned ratio

Intoxicated and not aware of the consequences, umberto agrees to a two-year cell-phone service contract with wander talk, inc., at more than the average market price. this contract is not enforceable because the contract clearly favors wander talk. not enforceable because umberto was intoxicated enough to lack mental capacity when he agreed to it. not enforceable because contracting parties can change their minds. enforceable.