Lady Inc whose fiscal year ends on December 31 designs and

Lady Inc whose fiscal year ends on December 31 designs and sells fashions for young professional women Margaret Lutz president of the company fears that the forecasted profitability goals for 2014 will not be reached She is pleased when Lady Inc receives a large order on December 30 2014 from The Executive Woman a retail chain of upscale stores for businesswomen Lutz immediately directs the controller to record the sale which represents of Ladys annual sales At the same time she directs the inve