(8 Points) 1. Fill in the table below. What does the common size income statement analysis
tell you about LMN, Inc?
Common Size Income Statement Analysis for LMN, Inc.
Income Statement
2019
%
Net Sales
$1,110,000
Cost of Goods Sold
650,000
Gross Profit Margin
$460,000
Selling & Administrative Expenses 265,000
Depreciation
$110,000
Operating Profit (EBIT)
$85,000
Interest
$40,000
Earnings Before Taxes
$45,000
Taxes (.40)
$18,000
Net Income
$27,000
(4 Points)
2. Provide two examples of sources of cash flow for the firm and two examples of
uses of cash flow.

Achecklists should be based on past

5. profit maximization and shutting down in the short run suppose that the market for polos is a competitive market. the following graph shows the daily cost curves of a firm operating in this market. 0 2 4 6 8 10 12 14 16 18 20 50 45 40 35 30 25 20 15 10 5 0 price (dollars per polo) quantity (thousands of polos) mc atc avc for each price in the following table, calculate the firm's optimal quantity of units to produce, and determine the profit or loss if it produces at that quantity, using the data from the previous graph to identify its total variable cost. assume that if the firm is indifferent between producing and shutting down, it will produce. (hint: you can select the purple points [diamond symbols] on the previous graph to see precise information on average variable cost.) price quantity total revenue fixed cost variable cost profit (dollars per polo) (polos) (dollars) (dollars) (dollars) (dollars) 12.50 135,000 27.50 135,000 45.00 135,000 if the firm shuts down, it must incur its fixed costs (fc) in the short run. in this case, the firm's fixed cost is $135,000 per day. in other words, if it shuts down, the firm would suffer losses of $135,000 per day until its fixed costs end (such as the expiration of a building lease). this firm's shutdown price—that is, the price below which it is optimal for the firm to shut down—is per polo.

The relationship requirement for qualifying relative requires the potential qualifying relative to have a family relationship with the taxpayer. t or fwhich of the following is not a from agi deduction? a.standard deductionb.itemized deductionc.personal exemptiond.none of these. all of these are from agi deductions