Angela Lopez owns and manages a consulting firm called Metrix, which began operations on December 1. On December 31, Metrix shows the following selected accounts and amounts for the month of December. Equipment $ 11,500 Office supplies $ 3,000 Salaries expense 4,500 Rental revenue 2,000 Consulting revenue 19,500 Advertising expense 700 Cash 11,000 Prepaid insurance 2,500 Utilities expense 500 Accounts payable 6,100 Note payable 3,900 Note receivable 4,000 Accounts receivable 5,000 Rent expense 3,500 Common stock 17,600 Unearned revenue 600 Dividends 3,500 Required: 1. Prepare a December income statement for the business. 2. Prepare a December statement of retained earnings. The Retained Earnings account balance at December 1 was $0, and the owner invested $17,600 cash in the company on December 2 in exchange for common stock. 3. Prepare a December 31 balance sheet. Hint: Use the Retained Earnings account balance calculated in part 2.

Let's consider a hypothetical airline, mudlarks airlines. on one of its flights, precious records show that about 15% of people who had tickets for the flights did not take the flight. there are 120 seats on the plane. 1. how many tickets should mudlarks airlines sell for this flight? 2. as an added consideration, suppose that tickets on this flight cost a flat rate of $250. in addition, mudlarks airlines must give any traveler who purchased a seat for the flight, but who cannot travel due to overbooking, a $400 certificate for their trouble. does this change your answer in question one? now, suppose that mudlarks airlines forms a partnership itch another airline, puffin air. their agreement allocates 100 seats on the flight to mudlarks airlines and another 20 seats to puffin air. the 2 airlines sell tickets for the flight independently of each other. 3. assuming the same 15% no show percent for each airline, how many tickets should each sell?