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What is the normal balance of retained earnings?
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- the cost of assets consumed in the process generating revenue
- Calvin Corp., a merchandising company, reported the following results for November:Sales $4,096,400 Cost of goods sold (all variable) $2,194,500 Total variable selling expense $238,700 Total fixed selling expense $144,700 Total variable administrative expense $238,700 Total fixed administrative expense $282,900The contribution margin for November is:A) $1,424,500B) $1,901,900C) $996,900D) $3,191,400
- 8. You have developed data which give (1) the average annual returns on the market for the past five years, and (2) similar information on Stocks A and B. If these data are as follows, which of the possible answers best describes the historical betas for A and B?Years/Market/Stock A/Stock B1/0.03/0.16/0.052/−0.05/0.20/0.053/0.01/0.18/0.054/−0.10/0.25/0.055/0.06/0.14/0.05a.βA > 0; βB = 1b.βA > +1; βB = 0c.βA = 0; βB = −1d.βA < 0; βB = 0e.βA < −1; βB = 1