Four years ago, ship express purchased a mailing machine at a cost of $218,000. this equipment is currently valued at $97,400 on today's balance sheet but could actually be sold for $92,900. this is the only fixed asset the firm owns. net working capital is $41,300 and long-term debt is $102,800. what is the book value of shareholders' equity?

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.