Goods Grocery reported the following comparative income statements for the Merchandis E6-24 Correctin rs ended June 30, 2019 and 2018: Learning Ob 1.2019, NI S NATURE FOODS GROCERY Income Statements Years Ended June 30, 2019 and 2018 2019 2018 Net Sales Revenue Cost of Goods Sold: $ 134,000 119,000 inning Merchandise Inventory $ 17,000 Net Cost of Purchases Cost of Goods Available for Sale Less: Ending Merchandise Inventory 18,000 Cost of Goods Sold $14,000 67,000 81,000 17,000 78,000 95,000 Gross Profit Operating Expenses Net Income 77,000 57,000 26,000 31,000 64,000 55,000 21,000 S 34,000 During 2019, Nature Foods Grocery discovered that ending 2018 merchandise inven- tory was overstated by $5,500. Requirements
1. Prepare corrected income statements for the two years
2. State whether each year's net income-before your corrections-is understated or overstated, and indicate the amount of the understatement or overstatement. inventory

Assume today is december 31, 2013. barrington industries expects that its 2014 after-tax operating income [ebit(1 – t)] will be $400 million and its 2014 depreciation expense will be $70 million. barrington's 2014 gross capital expenditures are expected to be $120 million and the change in its net operating working capital for 2014 will be $25 million. the firm's free cash flow is expected to grow at a constant rate of 4.5% annually. assume that its free cash flow occurs at the end of each year. the firm's weighted average cost of capital is 8.6%; the market value of the company's debt is $2.15 billion; and the company has 180 million shares of common stock outstanding. the firm has no preferred stock on its balance sheet and has no plans to use it for future capital budgeting projects. using the corporate valuation model, what should be the company's stock price today (december 31, 2013)? round your answer to the nearest cent. do not round intermediate calculations.

Suppose the marginal damage and marginal benefit curves in a polluted neighborhood are md = p/3 and mb = 4 – p. also, suppose that transactions costs are low, so that the consumers and the firm can bargain. we saw that in this case, the socially-optimal level of pollution is achieved. start by computing the socially-optimal p. then, for each of the following cases, compute the amount of money transferred through the bargaining process, and indicate who pays whom (i. e., whether consumers pay the firm, or vice versa). also, compute the gains to each party relative to the status quo (i. e., the starting point of the bargaining process).a)consumers have the right to clean air; firm is dominant in the bargaining process. b)consumers have the right to clean air; consumers are dominant in the bargaining process. c)firm has the right to pollute; firm is dominant in the bargaining process. d)firm has the right to pollute; consumers are dominant in the bargaining proces

Read the following scenario and answer the question in 5-10 sentences. you are the owner of a small business that is a defendant in a lawsuit in federal court. you received bad news from your lawyer that the judge did not allow certain documents to be admitted as evidence in court and that the jury reached a $50,000 verdict in favor of the plaintiff. your lawyer tells you that it is within your legal right to hire him to file an appeal with the united states court of appeals. if the appellate court rules in your favor, you may be able to avoid paying part or all of the $50,000. evaluate your lawyer’s suggestion about appealing the decision.