Reduce All Fractions to Their Simplest Forms

question 7

Short Answer

Reduce all fractions to their simplest forms. Convert all improper fractions to mixed numbers. Provide answers in the following format:
Fraction: 3/4
Mixed number: 1 5/8
-

---

Definitions:

Equipment Purchase

The acquisition of physical assets like machinery, computers, or production tools for business operations, often involving capital expenditure.

Special One-Time Charge

A non-recurring expense or fee recorded in a company's financial statements, typically related to restructuring or significant adjustments.

Corporate Restructurings

Refers to significant organizational changes in a company, which may include mergers, acquisitions, divestitures, or other major reorganizations aimed at increasing efficiency or profitability.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income or loss.