Kimmel, Accounting, 6e Help I Syst Problem 2-2A These items are taken from the financial statements of Whispering Winds Corp. for 2017. Retained earnings (beginning of year) Utilities expense Equipment Accounts payable Cash Salaries and wages payable Common stock Dividends Service revenue Prepaid insurance Maintenance and t Depreciation expense $35,530 2,150 70,530 20,750 11,750 6,280 12,000 12,000 71,540 6,780 1,650 3,320 14,150 2,480 40,540 19,250 dy Accounts receivable Insurance expense Salaries and wages expense Accumulated depreciation-equipment Prepare an income statement for the year ended December 31, 2017 Whispering Winds Corp. Income Statement ber 2017 Retained Earnings Expenses search

Wo firms, a and b, each currently dump 50 tons of chemicals into the local river. the government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. it costs firm a $100 for each ton of pollution that it eliminates before it reaches the river, and it costs firm b $50 for each ton of pollution that it eliminates before it reaches the river. the government gives each firm 20 pollution permits. government officials are not sure whether to allow the firms to buy or sell the pollution permits to each other. what is the total cost of reducing pollution if firms are not allowed to buy and sell pollution permits from each other? what is the total cost of reducing pollution if the firms are allowed to buy and sell permits from each other? a. $3,000; $1,500 b. $4,500; $3,500 c. $4,500; $4,000 d. $4,500; $2,500