Social media allows brand communities to be built as a platform where consumers and other stakeholders, such as advertisers, can share content, experiences, and insights about a brand. How can a marketer maximize the benefits of this kind of social media marketing?

Sign up for a loyalty program for hospitality or travel organization. What information did it request from you? Did the information seem useful? Is there information it should have asked for but did not? Did it ask you if it was all right if it sent you information? See if you receive any response from the company after signing up.

Pelican Enterprises had the following account balances in its general ledger at June 30, 2004, the end of the company’s fiscal year. All adjusting entries (except for the accrual of income taxes at 30%) had been entered. The company had an average of 900,000 shares of common stock outstanding during the year.

Required

A. Prepare an income statement in good form, including earnings per share information.

B. Have the closing entries been made to the accounting system? How can you tell? (Hint: You might want to review the accounting cycle in Chapter F3.)

C. What is the amount of net income available to common stockholders? Why is this important information?

D. Why do you think that GAAP require that gross profit, operating income, pretax income, and net income be separately disclosed?