These financial statement items are for Cullumber Company at year-end, July 31, 2022.

Salaries and wages payable $ 3,900

Salaries and wages expense 59,100

Supplies expense 16,800

Equipment 17,000

Accounts payable 4,100

Service revenue 67,700

Rent revenue 9,700

Notes payable (due in 2025) 3,300

Common stock 16,000

Cash 35,100

Accounts receivable 11,300

Accumulated depreciation—equipment 7,600

Dividends 4,000

Depreciation expense 4,000

Retained earnings (beginning of the year) 35,000

a. Prepare an income statement for the year. Vaughn Manufacturing did not issue any new stock during the year.

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Ummit record company is negotiating with two banks for a $157,000 loan. fidelity bank requires a compensating balance of 24 percent, discounts the loan, and wants to be paid back in four quarterly payments. southwest bank requires a compensating balance of 12 percent, does not discount the loan, but wants to be paid back in 12 monthly installments. the stated rate for both banks is 9 percent. compensating balances will be subtracted from the $157,000 in determining the available funds in part a. a-1. calculate the effective interest rate for fidelity bank and southwest bank. (do not round intermediate calculations. input your answers as a percent rounded to 2 decimal places.) a-2. which loan should summit accept? southwest bank fidelity bank b. recompute the effective cost of interest, assuming that summit ordinarily maintains $37,680 at each bank in deposits that will serve as compensating balances

Suppose you hold a portfolio consisting of a $10,000 investment in each of 8 different common stocks. the portfolio's beta is 1.25. now suppose you decided to sell one of your stocks that has a beta of 1.00 and to use the proceeds to buy a replacement stock with a beta of 1.55. what would the portfolio's new beta be? do not round your intermediate calculations.