Today’s workplace is quite different from the workplace of several decades ago. Rather than having rigid structures in which each employee performs a narrow set of tasks, organizations now operate in a fast-changing environment that requires employees to have many different skills. This activity will test your awareness of your employer’s likely expectations. To complete the activity, roll over each speaker to read his or her advice about preparing for professional success. Then, depending on the soundness of the advice, drag the speaker either to the "Good Advice" or "Bad Advice" area.

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?