Joe Farmingham is 38 years old, married, and has two children, ages 12 and 7. He recently received an inheritance of $300,000 and is considering investing "real money" for the first time. Joe likes to read the financial press and indicates that if he had money to invest in the past, he could have taken advantage of some undervalued security opportunities. Joe believes he has an average tolerance for risk-taking in investment activities, but he also enjoys skydiving every other weekend.

Prior to its closing, income summary had total debits of $1,190,500 and total credits of $1,476,300. what purpose is served by the income summary account and what is the nature of the entries that resulted in the $1,190,500 and the $1,476,300? the income summary account is used to the accounts. the $1,190,500 represents the , and the $1,476,300 represents . the company had of $ .

On coral island in 2012, the labor force is 12,000, the unemployment rate is 10 percent, and the labor force participation rate is 60 percent. during 2013, 200 unemployed people found jobs and the working-age population increased by 1,000. the total number of people in the labor force did not change. the working-age population at the end of 2013 was the unemployment rate at the end of 2013 was round up to the second decimal. the labor force participation rate at the end of 2013 was round up to the second decimal.

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