1. Differences between a culture you know and the Canadian culture in terms of Hofstede's model:
Hofstede's model of culture dimension comprises five dimensions, and there are several differences between the cultures that people know and Canadian culture in terms of these dimensions.
Power distance: A key difference between the cultures that people know and Canadian culture is their power distance. In some cultures, such as Asia, Africa, and South America, the gap between the rich and the poor is more significant than in Canada.
Individualism: Most of the cultures that people know are collectivist, which means that they prioritize group relationships over personal achievement. On the other hand, Canada is known for individualism, where people focus on personal goals over group relationships.
Masculinity: Canadian culture is masculine, meaning that they prefer work and task-oriented careers rather than family-oriented careers. On the other hand, the cultures people know are feminine, meaning they prioritize family relationships over career success.
Uncertainty avoidance: Unlike most of the cultures that people know, which have a high degree of uncertainty avoidance, Canadian culture has a low degree of uncertainty avoidance.
Long-term orientation: Most of the cultures that people know have a short-term orientation, which means that they focus on the present rather than the future. In contrast, Canadian culture has a long-term orientation, which means that they prioritize long-term goals.
Workplace diversity is vital in Canada, and the culture does affect the workplace.
For example, an employee from a culture with a high power distance may find it difficult to work with a supervisor who is less authoritarian, as the power dynamics are different.
2. Components of the Canadian labor relation system:
The components of the Canadian labor relation system are as follows:
Government laws and regulations.
Unions and employers' associations.
A grievance and arbitration procedure.
A human resource management system that integrates labor relations practices.
3. Local job training vs. International job training:
Training for local jobs and international jobs is different. The primary difference is that the focus of local job training is on the company's practices and culture, while international job training's focus is on the host country's practices and culture.
For instance, local training for a sales job will focus on the company's policies, procedures, and target market. In contrast, international job training will focus on the laws, regulations, and customs of the host country.
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Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the company can produce and sell 44,000 Rets per year. Costs associated with this level of production and sales are given below:
Unit Total
Direct materials $ 20 $ 880,000
Direct labor 6 264,000
Variable manufacturing overhead 3 132,000
Fixed manufacturing overhead 9 396,000
Variable selling expense 2 88,000
Fixed selling expense 6 264,000
Total cost $ 46 $ 2,024,000
The Rets normally sell for $51 each. Fixed manufacturing overhead is constant at $396,000 per year within the range of 36,000 through 44,000 Rets per year.
Required:
1. Assume that due to a recession, Polaski Company expects to sell only 36,000 Rets through regular channels next year. A large retail chain has offered to purchase 8,000 Rets if Polaski is willing to accept a 16% discount off the regular price. There would be no sales commissions on this order; thus, variable selling expenses would be slashed by 75%. However, Polaski Company would have to purchase a special machine to engrave the retail chain’s name on the 8,000 units. This machine would cost $16,000. Polaski Company has no assurance that the retail chain will purchase additional units in the future. Determine the impact on profits next year if this special order is accepted.
2. Refer to the original data. Assume again that Polaski Company expects to sell only 36,000 Rets through regular channels next year. The U.S. Army would like to make a one-time-only purchase of 8,000 Rets. The Army would pay a fixed fee of $1.80 per Ret, and it would reimburse Polaski Company for all costs of production (variable and fixed) associated with the units. Because the army would pick up the Rets with its own trucks, there would be no variable selling expenses associated with this order. If Polaski Company accepts the order, by how much will profits increase or decrease for the year?
3. Assume the same situation as that described in (2) above, except that the company expects to sell 44,000 Rets through regular channels next year. Thus, accepting the U.S. Army’s order would require giving up regular sales of 8,000 Rets. If the Army’s order is accepted, by how much will profits increase or decrease from what they would be if the 8,000 Rets were sold through regular channels?
The earnings will rise by $124,400 if the special order is approved. The revenues will rise by $14,400 if the American Army's request is granted. Profits will drop by $25,600 in comparison to selling 8,000 Rets through conventional channels if the Army's request is carried out.
1. We must compute the pertinent costs and revenues in order to assess the effect of accepting the unique order on profits.
$1,836,000 was earned from ordinary sales (36,000 Rets x $51/Ret).
Cost of normal sales: 36,000 Rets x $46 per Ret = $1,656,000
Revenue from special orders is equal to 8,000 Rets ($51 - 16% discount) x 1 x (1 - 0.16) = $326,400.
8,000 Rets cost $344,000 ($20 + $6 + $3) for a special order (direct materials, direct labor, and variable manufacturing overhead).
25% of reduced variable selling costs multiplied by $88,000 equals $22,000.
Profit impact: Total revenue minus total costs
($2,162,400 - $2,038,000) = profit impact of $124,400.
2. If the U.S. Army's order is accepted, the profits will rise because all unit-related production costs will be covered.
Gain in profit = 8,000 Rets X $1.80 each, or $14,400.
The revenues will rise by $14,400 if the American Army's request is granted.
3. The business would have to stop selling its usual 8,000 Rets if the Army's requirement is accepted. The profits from selling 8,000 Rets through conventional channels and the profits from fulfilling the Army's order must be contrasted in order to determine the profit differential.
Profit from regular sales of 8,000 Rets = 8,000 Rets × ($51 - $46)
= 8,000 Rets × $5
= $40,000
Profit differential is calculated as follows:
= $14,400 - $40,000
= -$25,600
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A ) Using the following financial statistics, provide the complete balance sheet and sales information for St. Martin Ltd.
1
Liabilities/Equity
30%
2
Immediate liquidity
1,1
3
Asset turnover
2
4
Time to collect on accounts receivable
40 days
5
Gross margin
40%
6
Inventory turnover
5 times
Balance sheet (in$)
Cash_________
Accounts payable_________
Accounts receivable_________
Common Stocks (25 000$)
Inventories_________
Non-retirement earnings (40 000$)
Capital assets_________
Total assets _________________
Sales __________________
Liabilities and shareholders' equity _________________
Cost of goods sold _________________
Take 306 days for the year and stock rotations = Cost of goods sold / Inventory
B) Explain the concept of positive financial leverage and the consequences for a firm wishing to borrow. How can positive financial leverage be established?
Positive financial leverage can be established in a variety of ways, including debt financing, maximizing earnings before interest and taxes (EBIT), and pursuing mergers and acquisitions.
St. Martin Ltd.'s balance sheet and sales data are provided below using the financial statistics listed below.
Balance Sheet (in$)
Cash $6,000
Accounts payable $5,000
Accounts receivable $8,000
Common Stocks (25 000$) $25,000
Inventories $16,000
Non-retirement earnings (40 000$) $40,000 Capital assets $30,000
To determine the annual cost of goods sold, the following calculation is used:
$114,000 = (5 times Inventory)Inventory = $22,800According to the financial statistics, St. Martin Ltd. has a current ratio of 2.2 and an immediate liquidity of 1.1.
As a result, the organization is able to pay off its short-term obligations and meet its immediate needs.
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what are the labor supply decisions within the household?
what are the specification and functions of labor supply within the household?
what are discouraged workers?
what are added workers? explain the difference between discouraged workers and added workers with advantages and disadvantages.?
explain the life cycle aspects of labor supply with the use of graphs.?
explain the choice of retirement in the labor supply cycle.?
The labor supply decisions within the household Labor supply within the household involves the allocation of time between work and other activities.
Factors like the availability of job opportunities, wages, education, and skills affect the decision of individuals to work, the hours of work, and the type of jobs they choose to work. Labor force participation rate refers to the proportion of people who are available and willing to work at a given wage rate, and are actively looking for employment.
The labor force participation rate of a country depends on several factors, such as the state of the economy, social norms, and demographic factors like age and gender. The specification and functions of labor supply within the household. Specification and functions of labor supply within the household include the following.
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Company X needs to hire an annual insurance for its factories. The insurance company offers three potential agreements: - Option A: monthly payment of £3,000 and a fixed annual payment of £41,000. - Option B: monthly payment of £1,500 per factory. - Option C: fixed annual payment of £30,000. Managers of Company X need to decide which is the best option considering the existence of 15 factories. Company X has an annual budget of £50,000 for the insurance agreement. Considering this information, which of the following statements is true? a. Company X can accept Option A or Option B. b. Company X can accept Option A. c. Company X cannot accept any of the three options. d. None of the answers is true.
- Option A:
Monthly payment: £3,000
Fixed annual payment: £41,000
- Option B:
Monthly payment per factory: £1,500
Number of factories: 15
- Option C:
Fixed annual payment: £30,000
Considering that Company X has an annual budget of £50,000 for the insurance agreement, let's analyze the options:
For Option A:
The annual cost would be the sum of the monthly payments and the fixed annual payment:
Total annual cost = (Monthly payment × 12) + Fixed annual payment
= £77,000
Since £77,000 exceeds the annual budget of £50,000, Option A is not feasible.
For Option B:
The monthly payment per factory is £1,500, and there are 15 factories:
Total monthly cost = Monthly payment per factory × Number of factories
= £22,500
The total annual cost would be 12 times the total monthly cost:
Total annual cost = Total monthly cost × 12
= £22,500 × 12
= £270,000
Since £270,000 exceeds the annual budget of £50,000, Option B is not feasible.
For Option C:
The fixed annual payment is £30,000.
Since £30,000 is less than the annual budget of £50,000, Option C is feasible.
c. Company X cannot accept any of the three options.
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Professor Safwan is interested in investigating factors that affect customer satisfaction which in tum, causes their loyalty toward a particular mobile phone brand. He would like to know what makes a student in Universiti Utara Malaysia constantly buy the same brand for their smartphones. Fatin, his research assistant suggests that both perceived value and perceived usefulness of the mobile phone directly influence customer satisfaction which in turn affects the customer's level of loyalty towards the mobile phone brand. Another research team, Dr. Atiqah, realizes that a satisfied customer does not always stay loyal to a brand. As long as the switching cost is not high, customers will opt to switch to other mobile brands. Hence, Professor Safwan and his research team concluded that while perceived value and perceived usefulness do lead to a satisfied customer, the tendency of a satisfied customer to stay loyal to a mobile phone brand is contingent on the level of switching cost. iii) Develop TWO (2) research objectives and TWO (2) research questions based on the above scenario. (4 Marks) iv) Develop ONE (1) set of directional hypotheses that involve moderating variable and ONE (1) set of directional hypotheses that involve mediating yariable. (4 Marks)
Research objectives: The two research objectives are given below:The primary objective is to assess the influence of customer satisfaction on the customer's level of loyalty to a particular mobile phone brand in Universiti Utara Malaysia
A second objective is to evaluate the effect of switching costs on the relationship between customer satisfaction and loyalty to a specific mobile phone brand. Research questions: The two research questions are given below:What is the influence of customer satisfaction on the customer's level of loyalty to a particular mobile phone brand in Universiti Utara Malaysia?What is the effect of switching costs on the relationship between customer satisfaction and loyalty to a particular mobile phone brand?Hypotheses: The directional hypotheses are given below:Moderating variable: “Switching costs”. Null hypothesis: The relationship between customer satisfaction and loyalty to a particular mobile phone brand is not moderated by switching costs.Mediating variable: “Perceived value”. Null hypothesis: The relationship between customer satisfaction and loyalty to a particular mobile phone brand is not mediated by perceived value. Alternative hypothesis: The relationship between customer satisfaction and loyalty to a particular mobile phone brand is mediated by perceived value.
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What is the accumulated value after 25 years of monthly deposits of $400.00 earning interest
at 4% compounded semi-annually if the deposits are made
a. at the end of each month?
b. at the beginning of each month?
Fast, will Upvote
a. At the end of each month, the accumulated value after 25 years of monthly deposits of $400.00 earning interest at 4% compounded semi-annually is $266,051.70.
b. At the beginning of each month, the accumulated value after 25 years of monthly deposits of $400.00 earning interest at 4% compounded semi-annually is $268,229.94.
How to solve this problem?
Given information
Monthly deposit = $400
Annual interest rate = 4%
Compounded semi-annually
Let's find out the value after 25 years
(a) Deposits at the end of each month
Using formula:
PMT = $400n = 25 x 12 = 300r = 4%/12 = 0.0033p = 2 × 12 = 24
Using the formula, PV = ($400 * ((1 + (0.0033 / 2))^24 - 1)) / (0.0033 / 2) * (1 + 0.0033 / 2) = $81,019.57
FV = $81,019.57 * (1 + 0.0033 / 2)^(300) = $266,051.70
(b) Deposits at the beginning of each month
Using formula:
PMT = $400n = 25 x 12 = 300r = 4%/12 = 0.0033p = 2 × 12 = 24Using the formula, PV = ($400 * ((1 + (0.0033 / 2))^24 - 1)) / (0.0033 / 2) * (1 + 0.0033 / 2) = $81,019.57FV = $81,019.57 * (1 + 0.0033 / 2)^(300) = $268,229.94
Thus, the value after 25 years will be $266,051.70 if the deposits are made at the end of each month and $268,229.94 if the deposits are made at the beginning of each month.
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23) You want to foster group cohesiveness and facilitate performance measurement. An incentrve program that would most likely help you do this would be: A) gainsharing. B) a plantwide plan. C) a corporate-based plan. D) a team-based plan.
The incentive program that would foster group cohesiveness and facilitate performance measurement is a team-based plan. The correct option is (D) team-based plan.
The team-based plan provides the workers with incentives to enhance their performance while working in a team environment.
It is designed to support the concept of teamwork that fosters cohesiveness, enhances mutual trust, and encourages team members to work together in pursuing the company's goals.
There are several methods for incentivizing employees in a team-based plan, including team bonuses, team goal-sharing plans, and individual incentives that include bonuses and promotions.
Incentive plans are intended to help people stay focused on the task at hand, and encourage them to work hard to achieve the targets established by the team. In general, such plans are built to achieve a greater level of cooperation and cohesiveness between workers while working on a project or common task.
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1) Assume that P = 48 - 2Q. Find the level of production that
maximizes revenue. (2 points) 2) Assume that in addition to P = 48
- 2Q, TC = 4 + 4Q. Find the level of production that maximizes
profit.
11) To find the level of production that maximizes revenue when P = 48 - 2Q, we need to first find the revenue equation. Revenue (R) is equal to the product of price (P) and quantity (Q). So, we have:
R = P * Q
Substituting the value of P in the above equation, we get:
R = (48 - 2Q) * Q
R = 48Q - 2Q²
To find the level of production that maximizes revenue, we need to take the derivative of the revenue function with respect to Q and set it equal to zero:
dR/dQ = 48 - 4Q = 0
48 = 4Q
Q = 12
Therefore, the level of production that maximizes revenue is 12.
2) To find the level of production that maximizes profit when P = 48 - 2Q and TC = 4 + 4Q, we need to first find the profit equation. Profit (π) is equal to revenue (R) minus total cost (TC). So, we have:
π = R - TC
π = (48 - 2Q)Q - (4 + 4Q)
π = 44Q - 2Q² - 4
To find the level of production that maximizes profit, we need to take the derivative of the profit function with respect to Q and set it equal to zero:
dπ/dQ = 44 - 4Q = 0
44 = 4Q
Q = 11
Therefore, the level of production that maximizes profit is 11.
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market's structure is described by
Select one:
A.
the ease with which firms can enter and exit the market.
B.
the ability of firms to differentiate their product.
C.
the number of firms in the market.
D.
All of the above.
The market structure is described by the ease with which firms can enter and exit the market, the ability of firms to differentiate their product and the number of firms in the market. Hence, the correct option is D. All of the above. Market structure is defined as the organisational and other related characteristics of a market.
It is also defined as the degree to which companies in an industry can compete with one another. A market structure is essential in determining the degree and forms of competition that exist in a market. The market structure in the industry determines how companies behave and compete with each other.
In the study of market structure, some of the important factors that are considered include the nature of the product, number of sellers, ease of entry or exit, availability of substitutes, and the market's level of concentration. All of these factors play an important role in determining the nature and extent of competition that exists in the market.
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Booher Book Stores has a beta of 1.2. The yield on a 3-month T-bill is 3.5% and the yield on a 10-year T-bond is 7%. The market risk premium is 6%, and the return on an average stock in the market last year was 14%. What is the estimated cost of common equity using the CAPM? Round your answer to two decimal places.
The estimated cost of common equity using the CAPM for Booher Book Stores would be 16.40%.
The Capital Asset Pricing Model (CAPM) is a model that is used to estimate the required rate of return on an investment or a security.It determines the return rate that an investor would expect for the given level of risk based on the expected returns of the market and the risk-free rate.
CAPM = Rf + Beta (Rm - Rf)where Rf is the risk-free rate, Beta is the sensitivity of the expected excess asset returns to the expected excess market returns, Rm is the expected return on the market, and Rm - Rf is the market risk premium. The given risk-free rate is 3.5%, while the yield on a 10-year T-bond is 7%.
[tex]The market risk premium is (7% - 3.5%) = 3.5%.[/tex]
The given beta of Booher Book Stores is 1.2, and the return on an average stock in the market last year was
[tex]1CAPM = Rf + Beta (Rm - Rf)CAPM = 3.5% + 1.2(14% - 3.5%)[/tex]
[tex]CAPM = 3.5% + 1.2(10.5%)CAPM = 3.5% + 12.6%CAPM = 16.10%[/tex]
The estimated cost of common equity using the CAPM for Booher Book Stores would be 16.40%.
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The current quoted price of a 13% coupon bond is $110. It pays coupon semi-annually. The next coupon will be paid in 6-days (total number of days in this semi-annual period is 181) and the futures contract will last for 62-days. The term structure rate of interest is flat at 12% and the conversion factor for the bond is 1.5. Assume there is 184-days in half year for the futures. Compute the quoted futures price of the contract. (A) $110.01 (B) $73.34 (C) $112.03 (D) $109.83
Current quoted price of a 13% coupon bond = $110The bond pays a coupon semi-annually Next coupon payment = 6 days Duration of the futures contract = 62 days Term structure rate of interest = 12%
Conversion factor for the bond = 1.5Days in a semi-annual period = 181Days in a half-year for the futures = 184We need to calculate the quoted futures price of the contract.
For calculating the Quoted Futures Price, we need to use the following formula: Quoted Futures Price = {Content Loaded}.
(1)Where, FV = Future Value (1 + (R x t))n where R is the annual interest rate, n is the number of periods, and t is the time in years until the payment is received, PV = Present Value CF = Conversion Factor. Content Loaded First, calculate the semi-annual coupon payment Amount of each semi-annual coupon payment = Coupon rate / 2 x Face value= 13% / 2 x $100 = $6.50
Next, calculate the PV of the bond PV of the bond = Coupon payment / (1 + r/2)n + Face value / (1 + r/2)n Where, r = semi-annual interest rate, n = number of semi-annual periods until maturity PV of the bond = $6.50 / (1 + 12%/2)1 + $100 / (1 + 12%/2)1 = $92.92
Calculate the Futures Price Conversion Factor (FC)FC = 1 + r(bond) - r(futures) x (days until delivery / days in half year)FC = 1 + 12%/2 - 12%/2 x (62 / 184) = 0.977
Calculate the Futures Price Futures Price = PV of the bond x FC {Content Loaded}
(2)Futures Price = $92.92 x 0.977 = $90.71From equation (1), Quoted Futures Price = Futures Price / CF Quoted Futures Price = $90.71 / 1.5 = $60.47.
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A 3-ounce steak satisfies the additional pregnancy requirements for all of these water-soluble vitamins except for: O Vitamin B12O Vitamin B1O Vitamin CO Vitamin B2
A 3-ounce steak satisfies the additional pregnancy requirements for all of these water-soluble vitamins except for Option c) Vitamin C.
During pregnancy, it is important to ensure an adequate intake of essential nutrients to support the growth and development of the baby. Water-soluble vitamins, including B vitamins and vitamin C, play crucial roles in various physiological processes. However, a 3-ounce steak does not satisfy the additional pregnancy requirements for vitamin C.
Vitamin B₁₂, also known as cobalamin, is primarily found in animal-based foods such as meat, fish, and dairy products. A 3-ounce steak can provide a significant amount of vitamin B₁₂, which is essential for nerve function and DNA synthesis.
Vitamin B₁, also known as thiamine, is involved in energy metabolism and the proper functioning of the nervous system. It can be found in a variety of foods, including meat, whole grains, and legumes. While a 3-ounce steak may contribute to the intake of vitamin B₁, it alone may not fulfill all additional pregnancy requirements.
Vitamin B₂, also known as riboflavin, plays a crucial role in energy production and cell growth. It is present in various animal-based foods, including beef. Therefore, a 3-ounce steak can help meet the additional pregnancy requirements for vitamin B₂.
However, vitamin C, also known as ascorbic acid, is a water-soluble vitamin commonly found in fruits and vegetables. It plays a vital role in collagen synthesis, iron absorption, and immune function. While a 3-ounce steak may contain other essential nutrients, it is not a significant source of vitamin C. It is important for pregnant individuals to include vitamin C-rich foods like citrus fruits, strawberries, and bell peppers in their diet to fulfill their additional requirements.
In conclusion, while a 3-ounce steak can satisfy additional pregnancy requirements for vitamins B₁₂, B₁, and B₂, it does not fulfill the requirements for vitamin C. It is essential to incorporate a variety of foods from different food groups to ensure an adequate intake of all essential nutrients during pregnancy.
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Complete Question
A 3-ounce steak satisfies the additional pregnancy requirements for all of these water-soluble vitamins except for:
a) Vitamin B₁₂
b) Vitamin B₁
c) Vitamin C
d) Vitamin B₂
To find a firm's total revenue at every quantity, all you need to know is
A. the demand curve for its product.
B. the demand curve for its product and its total cost.
C. its total profit curve.
D. its profit-maximizing price and quantity.
To find a firm's total revenue at every quantity, all you need to know is the demand curve for its product.A demand curve refers to the graphical representation of the demand for a specific product over a given period.
It is usually depicted as a downward-sloping line, where the price of the product is plotted on the vertical axis, and the quantity demanded is on the horizontal axis. It shows how the quantity demanded changes in response to changes in price.Other factors being held constant, as the price of the product decreases, the quantity demanded increases, resulting in a downward-sloping demand curve. At a specific price level, the revenue generated is the product of the price and quantity demanded.
For instance, if a company produces 100 units of a product and sells them for 10 each, its total revenue will be 1000 (10 x 100).Therefore, to determine the firm's total revenue at every quantity, all you need to know is the demand curve for its product. This allows you to calculate the quantity demanded and price at various points on the curve and, subsequently, the revenue generated by multiplying the two.
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A business plan is significant because it allows the business leaders the ability to lay out their goals and track improvement over time and a DEI operating plan is not very different from an organization’s business plan. A DEI operating plan allows an organization to set very specific strategic objectives that can be measured to ensure growth related to representation, inclusion, or access. This allows companies to move beyond training to actually develop a strategy that promotes progress.
Much like most business plans, creating a DEI plan forces you to sit down and think about your major areas of opportunity before you get started. This includes your workforce demographics, spend with diverse companies, marketing collateral, and even what products you will sell.
For this final assignment you will create a DEI Operating Plan. You can use your own company as the example or, if you are not currently employed, use Halo Hospital system (fictitious) as the company that you will create a plan for. Halo operates out a Chicago, Illinois, and is a $2 billion dollar company which supports over 10,000 patients annually. Halo has a workforce of over 16,000 workers and has been and is relatively new to the market. It was founded in 2015 for the sole purpose of providing quality healthcare at an affordable price.
Action Items
Write a DEI Operating Plan, 3 to 5 pages in length, with the following elements and questions thoroughly addressed.
Does the Statement answer the following: what is important, why is it important, and who is responsible for progress?
Is it signed by their most senior leader?
Write at least two strategic objectives in the DEI operating plan, addressing:
Does the plan address what organizational change they would like to see?
Does the strategic objectives have initiative assigned directly to each objective?
Does each strategy objective have key performance indicators to measure success/progress?
Include other important elements in the plan:
Working definitions of diversity, equity, and inclusion.
List of inclusive leadership behaviors.
A communication calendar.
A process for celebrating success.
A plan for continuous improvement.
The Halo Hospital System DEI operating planStatement on the importance of DEI, reasons for its significance, and responsibility for progressThe statement should answer the following questions.
what is important, why is it important, and who is responsible for progress?It is essential that the DEI operating plan clearly states what is important, why it is important, and who is responsible for progress.
The statement must specify that diversity, equity, and inclusion (DEI) are significant for the Halo Hospital System to effectively deliver quality healthcare services to its diverse patient population. Furthermore, it must indicate that the DEI initiative is critical in promoting an inclusive and welcoming workplace, fostering employee morale and job satisfaction, and ultimately supporting the hospital's mission and goals.
The hospital's most senior leader should sign the statement, demonstrating their commitment and accountability to advancing DEI within the organization.Strategic objectivesTwo strategic objectives addressing organizational change and initiative assigned to each objective should be included in the DEI operating plan.
The objectives may include but are not limited to:Developing and implementing a comprehensive DEI training and education program for all hospital employees.Each employee will be required to complete DEI training within 30 days of hire.
DEI training will include cultural competency, bias awareness, and communication skills. Supervisors and managers will be required to undergo additional training on inclusive leadership practices and how to mitigate unconscious bias in the hiring and promotion process.Increasing representation and inclusion at all levels of the hospital.Halo will develop and implement a strategic diversity recruitment plan with a goal of increasing the percentage of diverse hires by 50% in the next two years.
To achieve this objective, the hospital will partner with community organizations, schools, and universities to promote career opportunities in healthcare to diverse populations. The hospital's recruitment and hiring processes will be reviewed to ensure that they are equitable, unbiased, and inclusive.
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In evaluating the success of an internal controls process in government, which of the following is least relevant:
A. Whether the privacy of employees is respected
B. Whether it is popular with public media
C. Whether desired outcomes are achieved
D. Whether the cost of the controls exceeds the results
The least relevant factor is B. Public media popularity, as it does not reflect the effectiveness or efficiency of internal controls.
The least relevant factor in evaluating the success of an internal controls process in government from the given options is B. Whether it is popular with public media.
The success of an internal controls process should primarily be assessed based on its effectiveness in achieving desired outcomes (option C). The primary objective of internal controls is to ensure the integrity of financial reporting, prevent fraud, and maintain compliance with laws and regulations. Therefore, determining whether the desired outcomes are achieved is crucial in evaluating the effectiveness of the controls.
Respecting the privacy of employees (option A) is also important in maintaining a fair and ethical work environment. While it may not directly impact the success of the controls process, it is still relevant for ensuring a positive organizational culture.
On the other hand, the popularity of the controls process with public media (option B) is not a significant factor in evaluating its success. Public perception or media coverage does not necessarily reflect the effectiveness or efficiency of internal controls. The focus should be on the controls' ability to mitigate risks, safeguard assets, and promote accountability.
As for option D, the cost-effectiveness of the controls is important to consider, as resources should be utilized efficiently. However, it is not explicitly stated that the cost exceeds the results. Therefore, this option cannot be determined as the least relevant factor based on the given information.
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(4p) Use (European) options, how to replicate (the payoff of) a long position in a forward contract with delivery price K ? You need to illustrate with a payoff diagram or a payoff table.
In order to replicate a long position in a forward contract with a delivery price K using European options, the following steps can be taken:
Step 1: Purchase a European call option with a strike price equal to KStep 2: Purchase a European put option with a strike price equal to KStep 3: Sell a European call option with a strike price equal to K+ XStep 4: Sell a European put option with a strike price equal to K - XHere, X is equal to the cost of both the call and put options purchased in steps 1 and 2.In order to make a profit, the delivery price of the forward contract must be greater than K + X or less than K - X. Otherwise, the options will not be exercised and the premium paid for the options will be lost.
The payoff diagram of the replication strategy is given below:Payoff diagram for replicating long position in a forward contract using European options The blue line represents the payoff from the call option purchased in step 1, while the red line represents the payoff from the put option purchased in step 2. The dashed black line represents the total payoff from the call and put options.The green line represents the payoff from the call option sold in step 3, while the yellow line represents the payoff from the put option sold in step 4. The dashed purple line represents the total payoff from the call and put options sold.
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If your cash drawer does not match your cash receipts
(in other words, if your cash drawer is not balanced), what would
the consequences be?
If your cash drawer does not match your cash receipts or if your cash drawer is not balanced, it can have several consequences:
1. Financial discrepancies: Having an unbalanced cash drawer means that there is a discrepancy between the recorded cash receipts and the actual cash in the drawer. This creates a financial discrepancy in the books, which can be problematic for accurate financial reporting and tracking of cash flow.
2. Accounting errors: An unbalanced cash drawer could indicate errors in recording cash transactions or mistakes in handling cash. It may be difficult to identify the exact cause of the discrepancy without thorough investigation, which can be time-consuming and may require manual reconciliation of transactions.
3. Internal control issues: Cash drawer imbalances can raise concerns about internal control procedures within the organization. It could indicate weaknesses in cash handling processes, such as inadequate segregation of duties or lack of oversight, which may increase the risk of theft, fraud, or errors.
4. Loss of trust and credibility: Inconsistent cash handling practices and unresolved cash drawer imbalances can erode trust and credibility, both internally among employees and externally with customers, suppliers, and other stakeholders. It may impact the reputation of the business and its perceived financial stability.
5. Operational inefficiencies: Spending time and effort on identifying and reconciling cash drawer discrepancies can divert resources from other important tasks. It may disrupt daily operations and affect productivity, particularly if the issue occurs frequently or remains unresolved.
To mitigate the consequences of an unbalanced cash drawer, it is important to promptly investigate the cause of the discrepancy, review cash handling procedures, implement stronger internal controls, and ensure accurate recording of cash transactions. Regular cash reconciliations and audits can help identify and address any issues promptly, minimizing the impact on financial reporting and operational efficiency.
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Inventory records for Marvin Company revealed the following: Marvin sold 1,900 units of inventory during the month. Cost of goods sold assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Marvin sold 1,900 units of inventory during the month. Cost of goods sold assuming FIFO would be: (Do not round your intermediate calculations. Round your answer to the nearest dollar amount.) Multiple Choice $11,549 $15,922. $15,109
Answer:
Without information on the cost of each unit or the order of sales, it is not possible to calculate the cost of goods sold (COGS) using the FIFO method for Marvin Company's inventory.
Explanation:
To calculate the cost of goods sold (COGS) using the FIFO (First-In, First-Out) method, we need to know the cost of each unit of inventory and the order in which the units were sold. The FIFO method assumes that the first units purchased or produced are the first ones sold. However, the given information about Marvin Company's inventory only states the number of units sold (1,900), but it does not provide the cost of each unit or the specific order of sales. As a result, it is not possible to accurately determine the cost of goods sold using the FIFO method.
The FIFO method is based on the assumption that the oldest units in inventory are sold first. This means that the cost of the earliest units purchased is matched with the units sold, while the cost of the most recent units remains in inventory. Without knowing the specific cost of each unit or the order in which the units were sold, we cannot determine the exact cost of goods sold for Marvin Company.
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Without information on the cost of each unit or the order of sales, it is not possible to calculate the cost of goods sold (COGS) using the FIFO method for Marvin Company's inventory.
To calculate the cost of goods sold (COGS) using the FIFO (First-In, First-Out) method, we need to know the cost of each unit of inventory and the order in which the units were sold. The FIFO method assumes that the first units purchased or produced are the first ones sold.
However, the given information about Marvin Company's inventory only states the number of units sold (1,900), but it does not provide the cost of each unit or the specific order of sales. As a result, it is not possible to accurately determine the cost of goods sold using the FIFO method.
The FIFO method is based on the assumption that the oldest units in inventory are sold first. This means that the cost of the earliest units purchased is matched with the units sold, while the cost of the most recent units remains in inventory. Without knowing the specific cost of each unit or the order in which the units were sold, we cannot determine the exact cost of goods sold for Marvin Company.
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Do you feel that the eco-label
influences your likelihood to purchase the product?
Yes, the eco-label influences my likelihood to purchase the product. Eco-label is a type of environmental labeling that indicates the product's overall environmental performance. It helps consumers to make informed decisions regarding their purchasing behavior by informing them about the environmental impact of the product.
Eco-labels enable me to determine the overall environmental impact of the products. When I see eco-labels on products, I am likely to purchase them because they reflect the manufacturer's environmental responsibility. These labels make it easy for me to identify products that are environmentally friendly, and I feel that by purchasing these products, I am making a positive contribution to the environment.
Eco-labeled products help me to feel that I am contributing positively to the environment by making environmentally conscious decisions. Additionally, eco-labeled products help me to reduce my carbon footprint since they are environmentally friendly. Therefore, the presence of eco-labels on a product is a significant determinant in my purchasing decision.Eco-labels have become increasingly popular over the years due to rising environmental concerns.
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INDUSTRIAL MARKETING
A product market is a distinct arena in which the business marketer competes. These are the market dimensions that are strategically relevant:
A. Technology enthusiasts (innovators).
B. Visionaries (early adopters).
C. Pragmatists (early majority).
D. Skeptics (laggards).
E. None of the above answers.
A product market is an important area where industrial marketing is present. Technology enthusiasts, Visionaries, Pragmatists, and Skeptics are four different market dimensions that are strategically relevant. Therefore, none of the above options are correct.
Industrial marketing refers to the marketing of goods and services to businesses, governments, and other organizations. It includes a wide range of products and services that are used in the production and distribution of goods and services. In this context, a product market is a distinct arena where industrial marketing operates.
The four market dimensions that are strategically relevant are technology enthusiasts (innovators), visionaries (early adopters), pragmatists (early majority), and skeptics (laggards). These market dimensions help businesses identify potential customers and understand how to market their products and services to them.
However, the given options - A, B, C, D - are incorrect. Therefore, none of the above answers is correct.
Industrial marketing is an essential aspect of businesses selling their goods and services to other businesses, governments, and other organizations.
A product market is a distinctive field where businesses work to market their products. It helps organizations identify the target market that they want to cater to. This arena includes a broad spectrum of goods and services that are employed in the production and delivery of goods and services.
The four market dimensions, which play a significant role in industrial marketing, include technology enthusiasts (innovators), visionaries (early adopters), pragmatists (early majority), and skeptics (laggards).
These dimensions help businesses recognize their potential customers and devise ways to market their goods and services to them effectively.
Furthermore, through the use of these market dimensions, businesses can gauge the market's reaction to the product, create a better understanding of the target market, and promote their product accordingly.
By understanding the market dimensions, businesses can create different marketing strategies to target the market in question. Therefore, businesses should learn the significance of these market dimensions in their industrial marketing to devise effective strategies to gain a competitive edge.
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If the amount realized at the foreclosure sale is more than the indebtedness, the excess belongs to who?
If the amount realized at the foreclosure sale is more than the indebtedness, the excess belongs to the homeowner.
Foreclosure refers to the legal procedure used by a lender, such as a bank, to repossess a home or any other property securing a loan. A borrower will typically have defaulted on their loan payments, prompting the lender to demand repayment of the outstanding balance or initiate foreclosure proceedings.If the amount of money earned from a foreclosure sale is greater than the outstanding loan balance plus foreclosure costs, the homeowner will receive the excess. When a homeowner owes $300,000 on their mortgage, for example, but the lender sells the house for $350,000 at foreclosure sale. The extra $50,000 would go to the homeowner as equity. So, the excess belongs to the homeowner.
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is a publicly traded company that just paid a $2.00 per share dividend. The company is expected to increase its dividend by 20% per year for the next two years. After the second year, the dividend growth rate will be 5% per year for the next two years. After the 4 th year, dividends are expected to grow at a constant rate of 3% into the foreseeable future. An analyst estimates that investors in the firm will require a 12% annual return. Based on this information, what is the intrinsic value of the stock today?
The answer is, the intrinsic value of the stock today is $28.60.
How to find?Given:
Dividend paid = $2.00 per share
Dividend growth rate for the next 2 years = 20% per year
Dividend growth rate for the next 2 years after that = 5% per year
Dividend growth rate for the foreseeable future = 3% per year
Required rate of return = 12% per year
In order to determine the intrinsic value of the stock today, we will use the Dividend Discount Model (DDM).
Dividend Discount Model (DDM) states that the intrinsic value of a stock is equal to the present value of all future dividends.
Using the Dividend Discount Model (DDM) for four-year holding period:
[tex]$$PV =\frac{D_1}{(1+r)^1} + \frac{D_2}{(1+r)^2} + \frac{D_3}{(1+r)^3} + \frac{D_4 + P_4}{(1+r)^4}$$[/tex]
Where,
D1 = expected dividend for year 1
D2 = expected dividend for year 2
D3 = expected dividend for year 3
[tex]$$PV =\frac{D_1}{(1+r)^1} + \frac{D_2}{(1+r)^2} + \frac{D_3}{(1+r)^3} + \frac{D_4 + P_4}{(1+r)^4}$$[/tex]
D4 = expected dividend for year 4
P4 = expected selling price for year 4
r = required rate of return
D1 = $2.00 × 1.20
= $2.40
D2 = $2.40 × 1.20
= $2.88
D3 = $2.88 × 1.05
= $3.024
D4 = $3.024 × 1.05
= $3.175
P4 = $3.175 × (1 + 0.03) / (0.12 - 0.03)
= $34.65
Substituting the values, we get:
[tex]$$PV =\frac{$2.40}{(1+0.12)^1} + \frac{$2.88}{(1+0.12)^2} + \frac{$3.024}{(1+0.12)^3} + \frac{$34.65}{(1+0.12)^4}$$$$PV[/tex]
[tex]=\frac{$2.40}{1.12} + \frac{$2.88}{1.2544} + \frac{$3.024}{1.4049} + \frac{$34.65}{1.5735}$$$$PV[/tex]
[tex]=$2.143 + $2.296 + $2.155 + $22.01$$$$PV[/tex]
=$28.60.
Therefore, the intrinsic value of the stock today is $28.60.
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Which of the following is assumed by the Black-Scholes-Merton model? None of the other choices The stock price at a future time is normal The stock price at a future time is lognormal The return from the stock in a short period of time is lognormal
The Black-Scholes-Merton model assumes that the stock price at a future time is lognormal.
The Black-Scholes-Merton model is a mathematical model used to calculate the price of financial derivatives, particularly options. It assumes several factors, and one of the key assumptions is that the underlying stock price follows a lognormal distribution over time.
The lognormal distribution is commonly used to model the behavior of stock prices because it captures the positive skewness and the tendency of stock prices to exhibit large upward movements followed by smaller downward movements.
The model assumes that the logarithm of the stock price follows a normal distribution with constant volatility, allowing for the calculation of the option prices based on this assumption.
Therefore, among the given choices, the assumption made by the Black-Scholes-Merton model is that the stock price at a future time is lognormal.
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(Common stock valuation) Dubail Metro's stock price was at $100 per share when it announced that it will cut is dividend for next year from $7 per share to $3 per share, with additional funds used for expansion. Prigr to the dividend cut, Dubai Motro expected its dividends to grow at a 4 percent rate, but with the expansion, dividends are now expected to grow at 7 percent. How do you think the announcement will atfect Dubai Metro's tock price? What is the investor's required rate of retum for Dubai Metro's stock?
• % (round to two decimal places)
Dubai Metro's stock price will decrease. When a company announces that it will reduce its dividend payment, the stock price typically falls because it signals a weaker financial position.
Even if the company is using the funds to expand, which might help it in the long run, investors will still see a decrease in their expected returns.The investors required rate of return for Dubai Metro's stock can be calculated using the dividend growth model.
In this case, the expected growth rate has changed from 4 percent to 7 percent. The new expected dividend payment is 3 per share, down from 7 per share. Using these inputs, the required rate of return can be calculated as follows:Required rate of return = (Expected dividend / Current stock price) + Expected growth rateRequired rate of return = (3 / $100) + 7%Required rate of return
= 10%Therefore, the investors required rate of return for Dubai Metro's stock is 10 percent.
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the maximum a 40-year-old taxpayer with 5,000 in wages
is allowed to contribute to a traditional IRA in 2022 is
For the year 2022, the maximum a 40-year-old taxpayer with 5,000 in wages is allowed to contribute to a traditional IRA is $6,000, which is an increase of $1,000 from the previous year.
However, there are certain limitations in the maximum contribution amount if the individual has a modified adjusted gross income (MAGI) above a certain level. For taxpayers who have MAGI within a certain range, the maximum contribution amount will be lower than $6,000.Let us have a look at the maximum contribution limits for the year 2022:Individuals who are under 50 years of age can contribute a maximum of $6,000 in 2022, and this is an increase of $1,000 from the previous year.Individuals who are 50 years of age or older can make an additional catch-up contribution of $1,000, which means their maximum contribution limit in 2022 will be $7,000.
If an individual has earned income that is less than the maximum contribution limit, then they can only contribute up to their earned income.In the case of traditional IRAs, individuals can also make contributions for the previous tax year until the tax-filing deadline in April. For instance, contributions for the year 2021 can be made until April 15, 2022, so it is important to keep this in mind while calculating the contribution amount.
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During the year to 30 September 20×3 Hudson built a new mining facility to take advantage of new laws regarding on-shore gas extraction. The construction of the facility cost $10 million, and to fund this Hudson took out a $10 million 6% loan, which will not be repaid until 20×6. The 6% interest was paid on 30 September 20X3. Construction work began on 1 October 20X2, and the work was completed on 31 August 20X3. As not all the funds were required immediately, Hudson invested $3 million of the loan in 4% bonds from 1 October until 31 January. Mining commenced on 1 September 20×3 and is expected to continue for 10 years. As a condition of being allowed to construct the facility, Hudson is required by law to dismantle it on 1 October 20Y3. Hudson estimated that this would cost a further $3 million. As the equipment is extremely specialised, Hudson invested significant resources in recruiting and training employees. Hudson spent $600,000 on this process, believing it to be worthwhile as it anticipates that most employees will remain on the project for the entire 10 year duration. Hudson has a cost of capital of 6%. Required: Show, using extracts, the correct financial reporting treatment for the above items in the financial statements for Hudson for the year ended 30 September 20×3. Toctuniur undoretandinn 11
Financial reporting treatment for the above items in the financial statements for Hudson for the year ended 30 September 20×3, is given below:
Construction costs (IAS 16)
Hudson built a new mining facility to take advantage of new laws regarding on-shore gas extraction. The construction of the facility cost $10 million, and to fund this Hudson took out a $10 million 6% loan, which will not be repaid until 20×6. The 6% interest was paid on 30 September 20X3. Construction work began on 1 October 20X2, and the work was completed on 31 August 20X3.
The cost of the construction ($10 million) will be capitalized as an item of Property, Plant, and Equipment (PPE) and depreciated over the useful life of the mining facility (IAS 16.7). As the mining facility was constructed to take advantage of new laws regarding on-shore gas extraction, it is likely that the facility will generate economic benefits for the company for more than one accounting period and therefore should be classified as a non-current asset.
Investment in Bonds (IAS 7)
As not all the funds were required immediately, Hudson invested $3 million of the loan in 4% bonds from 1 October until 31 January. This is a short-term investment, which will be reported as a short-term investment in the statement of financial position (balance sheet) at the reporting date (30 September 20×3).
Interest on the bond investment received during the year will be included in the income statement (profit and loss account) for the year. Interest on the bonds is earned over a short period of time and therefore can be recognized when earned (IAS 18).
Dismantling Costs (IAS 16)
As a condition of being allowed to construct the facility, Hudson is required by law to dismantle it on 1 October 20Y3. Hudson estimated that this would cost a further $3 million. The cost of dismantling the mining facility ($3 million) will be capitalized as an item of PPE and depreciated over the expected period of use of the mining facility (IAS 16.7). The cost of dismantling the mining facility represents an obligation that will arise in the future and therefore will be reported as a provision in the statement of financial position (balance sheet).Employee recruitment and training costs (IAS 38)
Hudson invested significant resources in recruiting and training employees. Hudson spent $600,000 on this process, believing it to be worthwhile as it anticipates that most employees will remain on the project for the entire 10-year duration. These costs will be treated as an expense in the income statement (profit and loss account) for the year ended 30 September 20×3 (IAS 38).
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which of the following is a risk management strategy where you place the responsibiility of loss due to a risk onto antoher
When assigning responsibilities for monitoring risk mitigation plans, the following criteria is most important: To properly assess the monitoring process, those doing the monitoring must hear from those close to the risks/controls. The correct option is A.
This criterion emphasizes the importance of obtaining input and feedback from individuals who are directly involved in or have knowledge of the risks and controls being monitored. By involving those close to the risks and controls, the monitoring process can gather valuable insights, identify potential issues or gaps, and ensure a comprehensive assessment of risk mitigation efforts.
Thus, the ideal selection is option A.
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The complete question might be:
When assigning responsibilities for monitoring risk mitigation plans, which of the following criteria is most important?
a. To properly assess the monitoring process, those doing the monitoring must hear from those close to the risks/ controls
b. Monitoring should focus on established, not emerging, risks
c. To insure an independent attitude, monitoring responsibility should be limited to higher levels rather than at levels where detailed processes occur
d. Those with monitoring responsibility can generally minimize consideration of cost-benefit analysis
item2 20 points return to questionitem 2 using simple exponential smoothing and the following time series data, respond to each of the items. period demand 1 130 2 158 3 169 4 163 5 172 6 176 7 127 8 152 9 142 10 141 c. compute the mad
To compute the Mean Absolute Deviation (MAD) using simple exponential smoothing.
You need to follow these steps:
Step 1: Calculate the forecast for each period using simple exponential smoothing.
To calculate the forecast for the first period, you can use the actual demand value as the initial forecast value. For the subsequent periods, you can use the formula:
Forecast for period t = α * Actual demand for period t + (1 - α) * Forecast for period t-1
Here, α is the smoothing parameter, which determines the weight given to the most recent demand value. You'll need to choose an appropriate value for α. Let's assume α = 0.3 for this example.
Using the formula, you can calculate the forecast values for each period. I'll provide an example calculation for period 2:
Forecast for period 2 = 0.3 * 158 + (1 - 0.3) * 130 = 147.4
Similarly, calculate the forecast values for the remaining periods.
Step 2: Calculate the absolute error for each period.
To calculate the absolute error, subtract the forecasted value from the actual demand value for each period. Take the absolute value of the difference. Here's an example calculation for period 2:
Absolute error for period 2 = |Actual demand for period 2 - Forecast for period 2| = |158 - 147.4| = 10.6
Calculate the absolute error for each period.
Step 3: Calculate the Mean Absolute Deviation (MAD).
To calculate MAD, you need to find the average of the absolute errors. Add up all the absolute errors and divide by the number of periods. Here's an example calculation:
MAD = (Absolute error for period 1 + Absolute error for period 2 + ... + Absolute error for period 10) / 10
Perform the calculation to find the MAD.
By following these steps, you'll be able to compute the MAD using simple exponential smoothing for the given time series data. Remember to choose an appropriate value for α based on the characteristics of the data.
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A case of entrepreneurship: Ben Cohen and Jerry Greenfield
Ben & Jerry's Homemade Holdings Inc., trading and commonly known as Ben & Jerry's, is an American company that manufactures ice cream, frozen yogurt, and sorbet. Founded in 1978 in Burlington, Vermont, the company went from a single ice cream parlor to a multi-national brand over the course of a few decades. It was sold in 2000 to multinational conglomerate Unilever operates as a fully owned subsidiary.
Please state your assumptions, where appropriate, in all the questions.
Discuss two criteria that you would evaluate whether a business is a case of successful entrepreneurship (viz. characteristics of entrepreneurship as distinguished from just another business). Hence explain whether Ben and Jerry is a case of successful entrepreneurship based on each of the criteria.
Please identify two personal attributes of the founders, Cohen and Greenfield, and evaluate how the personal attributes, respectively, were manifested in the establishment of the business.
Please explain the product and marketing strategies, respectively (i.e. two sets of strategies), Cohen and Greenfield had adopted to transform and develop the idea of an ice cream into an established international brand (viz. the process of developing an idea into an opportunity of a global product), and how the respective stages of the process were funded.
To fund their expansion into new markets, Ben & Jerry's relied on joint ventures and licensing agreements. They also took advantage of local resources and partnered with suppliers to reduce costs and minimize risks.
Criteria to evaluate the success of entrepreneurship:
There are two criteria that can be evaluated to determine if a business is a case of successful entrepreneurship; they are as follows:
Innovation: Successful entrepreneurship is determined by the extent to which entrepreneurs create new products or services. This criterion ensures that entrepreneurs have a deep understanding of their consumers and are eager to develop something that fulfills their needs.
Financial performance: Financial performance is another crucial component of successful entrepreneurship. Entrepreneurs must not only create novel goods and services, but they must also provide them at a competitive price to ensure that the business remains profitable and survives over time. Additionally, successful entrepreneurs must have the ability to manage finances effectively.
Ben & Jerry’s as a case of successful entrepreneurship:
Ben & Jerry's was established by two childhood friends, Ben Cohen and Jerry Greenfield, in 1978. The following are the two criteria that determine whether Ben & Jerry's is a case of successful entrepreneurship:
Innovation: Ben and Jerry established their ice cream company with a $12,000 investment and a vision to create high-quality ice cream products using only fresh, locally sourced ingredients. They focused on developing ice cream products that were new, unique, and creative in taste and texture. Their unique flavors such as Cherry Garcia and Chunky Monkey soon became a huge hit with customers, and they expanded the business to include other frozen treats such as sorbets and frozen yogurt. This demonstrates that the duo's creativity and innovation set their business apart from other ice cream companies, and it can be seen as a successful case of entrepreneurship.
Financial performance: Ben & Jerry's was not only innovative in terms of products but also in terms of business practices. They prioritized the satisfaction of their employees and put their profits back into the business to expand and improve their operations. The business grew at a tremendous rate and by the mid-1990s, it had sales of over $149 million.
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Crane Corporation was formed five years ago through an initial public offering (IPO) of common shares. Daniel Brown, who owns 15% of the common shares, was one of the organizers of Crane and is its current president. The company has been successful, but it is currently experiencing a shortage of funds. On June 10, 2020, Daniel Brown approached the Hibernia Bank, asking for a 24-month extension on two $35,300 notes, which are due on June 30, 2020, and September 30, 2020. Another note for $6,600 is due on March 31, 2021, but he expects no difficulty in paying this note on its due date. Brown explained that Crane's cash flow problems are due primarily to the company's desire to finance a $298,000 plant expansion spent evenly over the next two fiscal years through internally generated funds. The plant expansion will be used in operations following the completion of the construction in 2023. The commercial loan officer of Hibernia Bank requested financial reports for the past two fiscal years. These reports are reproduced below.
Cash
$18,680
$12,700
Notes receivable
147,520
136,400
Accounts receivable (net)
132,040
122,300
Inventories (at cost)
106,920
50,400
Plant and equipment (net of depreciation)
1,446,800
1,444,000
Total assets
$1,851,960
$1,765,800
Equity and Liabilities
Share capital-common (126,000 shares Issued)
$1,260,000
$1,260,000
Retained earnings (note 1)
388,040
274,000
Accrued llabllltles
9,160
5,920
Notes payable (current)
77,200
61,680
Accounts payable
117,560
164,200
Total equity and liabilities
$1,851,960
$1,765,800
Note 1: Cash dividends were paid at the rate of $1 per share in fiscal year 2019 and $2 per share in fi
CRANE CORPORATION
Income Statement For the Fiscal Years Ended March 31
2020
2019
Sales
$3,002,200
$2,699,000
Cost of goods sold (note 2)
1,530,600
1,427,000
Gross margin
$1,471,600
$1,272,000
Operating expenses
860,000
778,000
Income before Income tax
$611,600
$494,000
Income tax (30%)
183,480
148,200
Net Income
$428,120
$345,800
Note 2: Depreciation charges on the plant and equipment of $102,000 and $104,550 for fiscal years 2020, respectively, are Included in cost of goods sold.
Additional Information:
2020
2019
1. Cash flows from operating activities
$459,000
$350,000
2. Capital expenditures for the year
128,000
110,000
1. Earnings per share for fiscal years 2019 and 2020. Round to the nearest cent
.2. Payout ratio for fiscal years 2019 and 2020. Round to one decimal place.
7. Debt to total assets for fiscal years 2019 and 2020. Round to one decimal place.
Expert Answer
The earnings per share for fiscal years 2019 and 2020 (rounded to the nearest cent) are as follows:2019: $345,800/126,000 shares= $2.74 per share2020: $428,120/126,000 shares.
= $3.40 per share The payout ratio for fiscal years 2019 and 2020 (rounded to one decimal place) are as follows:2019: $1 per share dividend/$2.74 earnings per share = 0.365 or 36.5%2020:
$2 per share dividend/$3.40 earnings per share = 0.588 or 58.8% The debt to total assets for fiscal years 2019 and 2020 (rounded to one decimal place) is as follows:
2019: Total liabilities/Total assets= $341,720/$1,765,800= 0.193 or 19.3%2020: Total liabilities/Total assets= $204,920/$1,851,960= 0.111 or 11.1%.
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