Below are the year-end balance sheets for wolken enterprises: assets: 2015 2014cash $ 200,000 $ 170,000accounts receivable 864,000 700,000inventories 2,000,000 1,400,000total current assets $3,064,000 $2,270,000net fixed assets 6,000,000 5,600,000total assets $9,064,000 $7,870,000liabilities and equity: accounts payable $1,400,000 $1,090,000notes payable 1,600,000 1,800,000total current liabilitiy $3,000,000 $2,890,000long-term debt 2,400,000 2,400,000common stock 3,000,000 2,000,000retained earnings 664,000 580,000total common equity $3,664,000 $2,580,000total liabilities and equity$9,064,000 $7,870,000wolken has never paid a dividend on its common stock, and it issued $2,400,000 of 10-year non-callable, long-term debt in 2014. as of the end of 2015, none of the principal on this debt had been repaid. assume that the company's sales in 2014 and 2015 were the same. which of the following statements must be correct? (a) wolken had negative net income in 2015. (b) wolken repurchased some common stock in 2015. (c) wolken issued new common stock in 2015. (d) wolken issued long-term debt in 2015. (e) wolken increased its short-term bank debt in 2015.

Suppose that fizzo and pop hop are the only two firms that sell orange soda. the following payoff matrix shows the profit (in millions of dollars) each company will earn depending on whether or not it advertises: pop hopadvertise doesn’t advertisefizzo advertise 10, 10 18, 2doesn’t advertise 2, 18 11, 11for example, the upper right cell shows that if fizzo advertises and pop hop doesn't advertise, fizzo will make a profit of $18 million, and pop hop will make a profit of $2 million. assume this is a simultaneous game and that fizzo and pop hop are both profit-maximizing firms. if fizzo decides to advertise, it will earn a profit if pop hop advertises and a profit if pop hop does not advertise. if fizzo decides not to advertise, it will earn a profit if pop hop advertises and a profit if pop hop does not advertise. if pop hop advertises, fizzo makes a higher profit if it chooses (not to advertise, to .if pop hop doesn't advertise, fizzo makes a higher profit if it chooses (not to advertise, to . suppose that both firms start off not advertising. if the firms act independently, what strategies will they end up choosing? fizzo will choose to advertise and pop hop will choose not to advertise. both firms will choose to advertise. fizzo will choose not to advertise and pop hop will choose to advertise. both firms will choose not to advertise. again, suppose that both firms start off not advertising. if the firms decide to collude, what strategies will they end up choosing? fizzo will choose not to advertise and pop hop will choose to advertise. both firms will choose not to advertise. fizzo will choose to advertise and pop hop will choose not to advertise. both firms will choose to advertise.