Part 2: Information for Questions 25-30 Consolidation Entrie…

Part 2: Information for Questions 25-30 Consolidation Entries Income Statement Penn Co. Senn Co. Debit Credit Consolidated Sales 400,000 180,000 580,000 Less: COGS (180,000) (100,000) (280,000) Less: Wage expense (50,000) (34,000) (84,000) Less: Depreciation expense (30,000) (15,000) Cell 1 Less: Interest expense (25,000) (6,000) (31,000) Less: Other expenses (40,000) (2,000) (42,000) Less: Impairment loss Cell 2 Income from Senn Co. 13,200                                           Cell 3 Consolidated net income 88,200 23,000 18,400 5,200 Cell 4 NCI in net income                                                         Cell 5 Controlling Interest in Net Income 88,200 23,000                              Cell 6   Excel file (optional) with above information for your use with the following questions: Part 2 Information for Questions 25-30.xlsxEnter your answers in the questions below – you will not submit the spreadsheet.

You have a drawer full of quirky socks. There are [x] polka-…

You have a drawer full of quirky socks. There are [x] polka-dotted socks and [y] striped socks in the drawer. You randomly pull out a sock several times (placing the sock back in the drawer between each draw) and record the results. You end up pulling [z] polka-dotted socks and [w] striped socks. What is the probability of that outcome?