Skysong corporation had income from operations of $6,503,700. in addition, it suffered an unusual and infrequent pretax loss of $789,900 from a volcano eruption, interest revenue of $18,630, and a write-down on buildings of $56,090. the corporation’s tax rate is 30%. prepare a partial income statement for crane beginning with income from operations. the corporation had 4,958,200 shares of common stock outstanding during 2020. (round earnings per share to 2 decimal places, e. g. 1.48.)

3. saving two consumers, larry and jeff, have utility functions defined over the two periods of their lives: middle age (period zero) and retirement (period 1). they have the same income in period 0 of m dollars and they will not earn income in period 1. the interest rate they face is r. larry’s and jeff’s utility functions are as follow. = 0.5 + 0.5 and = 0.5 + 0.5 for each person is between zero and one and represents each consumer’s temporal discount econ 340: intermediate microeconomics. ben van kammen: purdue university. rate. a. write the budget constraint that applies to both jeff and larry in terms of consumption in each period and ), interest rate, and m. b. what is larry’s and what is jeff’s marginal rate of intertemporal substitution? c. what is the slope of the budget constraint? d. write each consumer’s condition for lifetime utility maximization. e. re-arrange the conditions from part (d) to solve for the ratio, . f. if > which consumer will save more of his middle age income? g. if > 1 1+ , in which period will larry consume more: = 0 or = 1?