C3 Took KitTool Kit for Analysis of Financial Statements Financial statements are analyzed by calculating certain key ratios and then comparing them with the ratios of other firms and by examining the trends in ratios over time. We can also combine ratios to make the analysis more revealing, those indicated below are exceptionally useful for this type of analysis. RATIO ANALYSIS (Section 3.1)Input Data:20102009Year-end common stock price$23.00$26.00Year-end shares outstanding (in millions)5050Tax rate40%40%After-tax cost of capital11.0%10.8%Lease payments$28$28Required sinking fund payments$20$20Balance Sheets(in millions of dollars)Assets20102009Cash and equivalents$10$15Short-term investments$0$65Accounts receivable$375$315Inventories$615$415 Total current assets$1,000$810Net plant and equipment$1,000$870Total assets$2,000$1,680Liabilities and equityAccounts payable$60$30Notes payable$110$60Accruals$140$130 Total current liabilities$310$220Long-term bonds$754$580 Total liabilities$1,064$800Preferred stock (400,000 shares)$40$40Common stock (50,000,000 shares)$130$130Retained earnings$766$710Total common equity$896$840Total liabilities and equity$2,000$1,680Income Statements(in millions of dollars)20102009Net sales$3,000.0$2,850.0 Operating costs$2,616.2$2,497.0Earnings before interest, taxes, depr. & amort. (EBITDA)$383.8$353.0 Depreciation$100.0$90.0 Amortization$0.0$0.0 Depreciation and amortization$100.0$90.0Earnings before interest and taxes (EBIT)$283.8$263.0 Less interest $88.0$60.0Earnings before taxes (EBT)$195.8$203.0 Taxes (40%)$78.3$81.2Net income before preferred dividends$117.5$121.8 Preferred dividends$4.0$4.0Net income available to common stockholders$113.5$117.8Common dividends$57.5$53.0Addition to retained earnings$56.0$64.8Calculated Data: Operating Performance and Cash Flows20102009Net operating working capital (NOWC)$800.0$585.0Total operating capital$1,800.0$1,455.0Net Operating Profit After Taxes (NOPAT)$170.3$157.8Net Cash Flow (Net income + Depreciation)$213.5$207.8Operating Cash Flow (OCF)$270.3$247.8Free Cash Flow (FCF)($174.7)N/ACalculated Data: Per-share Information20102009Earnings per share (EPS)$2.27$2.36Dividends per share (DPS)$1.15$1.06Book value per share (BVPS)$17.92$16.80Cash flow per share (CFPS)$4.27$4.16Free cash flow per share (FCFPS)($3.49)N/ALIQUIDITY RATIOS (Section 3.2)Industry20102009AverageLiquidity ratios Current Ratio3.233.684.2 Quick Ratio1.241.802.1ASSET MANAGEMENT RATIOS (Section 3.3)Industry20102009AverageAsset Management ratios Inventory Turnover4.886.879 Days Sales Outstanding45.640.34
Christopher Buzzard: To calculate the DSO ratio, a 365-day accounting year was used.36 Fixed Asset Turnover3.003.283 Total Asset Turnover1.501.701.8DEBT MANAGEMENT RATIOS (Section 3.4)Industry20102009AverageDebt Management ratios Debt Ratio53.20%47.62%40.00% Debt-to-Equity Ratio1.140.910.67 Market Debt Ratio48.06%38.10%N/A Times Interest Earned3.234.386 EBITDA Coverage Ra ...
C3 Took KitTHE HOME DEPOTTool Kit for Analysis of Financial Statem.docxRAHUL126667
C3 Took KitTHE HOME DEPOTTool Kit for Analysis of Financial Statements Financial statements are analyzed by calculating certain key ratios and then comparing them with the ratios of other firms and by examining the trends in ratios over time. We can also combine ratios to make the analysis more revealing, those indicated below are exceptionally useful for this type of analysis. RATIO ANALYSIS (Section 3.1)Input Data:20172016Year-end common stock price$23.00$26.00Year-end shares outstanding (in millions)5050Tax rate40%40%After-tax cost of capital11.0%10.8%Lease payments$28$28Required sinking fund payments$20$20Balance Sheets(in millions of dollars)Assets20172016Cash and equivalents$3,595$2,538Short-term investments$0$0Accounts receivable$1,952$2,029Inventories$12,748$12,549Other current assets$638$608 Total current assets$18,933$17,724Goodwill$22,075$21,914Other assets$1,246$1,235Net plant and equipment$2,275$2,093Total assets$44,529$42,966Liabilities and equityAccounts payable$7,244$7,000Short-term debt$1,559$710Sales taxes payable$520$508Deferred revenue$1,805$1,669Income tax payable$54$25Current Installments of long-term debt$1,202$542Other accrued expenses$2,170$2,195Accruals$1,640$1,484 Total current liabilities$16,194$14,133Long-term debt, excluding current installments$24,267$22,349Deferred income taxes$440$296Long-term bonds$2,174$1,855 Total liabilities$43,075$38,633Common stock (400,000 shares)$89$88Paid-in capital$10,192$9,787Retained earnings$39,935$35,519Treasury stock-$48,196-$40,194Accumulated other comprehensive loss-$566-$867Total common equity$1,454$4,245Total liabilities and equity$44,529$42,966Income Statements(in millions of dollars)20172016Net sales$100,904.0$94,595.0 Operating costs$66,548.0$62,282.0Earnings before interest, taxes, depr. & amort. (EBITDA)$34,356.0$32,313.0Selling, general and adminsitrative$17,864.0$17,132.0 Depreciation$1,811.0$1,754.0 Amortization$0.0$0.0 Depreciation and amortization$19,675.0$18,886.0Earnings before interest and taxes (EBIT)$14,681.0$13,427.0 Less interest $983.0$936.0Earnings before taxes (EBT)$13,698.0$12,491.0Provision for income taxes$5,068.0$4,534.0Net income before preferred dividends$8,630.0$7,957.0 Preferred dividends$0.0$0.0Net income available to common stockholders$8,630.0$7,957.0Common dividends$0.0$0.0Addition to retained earnings$8,630.0$7,957.0Calculated Data: Operating Performance and Cash Flows20172016Net operating working capital (NOWC)$9,411.0$8,632.0Total operating capital$11,686.0$10,725.0Net Operating Profit After Taxes (NOPAT)$8,808.6$8,056.2Net Cash Flow (Net income + Depreciation)$28,305.0$26,843.0Operating Cash Flow (OCF)$28,483.6$26,942.2Free Cash Flow (FCF)$7,847.6N/ACalculated Data: Per-share Information20172016Earnings per share (EPS)$172.60$159.14Dividends per share (DPS)$0.00$0.00Book value per share (BVPS)$29.08$84.90Cash flow per share (CFPS)$566.10$536.86Free cash flow per share (FCFPS)$156.95N/ALIQUIDITY RATIOS (Section 3.2)Indu ...
1
CHAPTER 3
Analysis of Financial Statements
2
Topics in Chapter
Ratio analysis
Du Pont system
Effects of improving ratios
Limitations of ratio analysis
Qualitative factors
3
Value = + + +
FCF1
FCF2
FCF∞
(1 + WACC)1
(1 + WACC)∞
(1 + WACC)2
Free cash flow
(FCF)
Market interest rates
Firm’s business risk
Market risk aversion
Firm’s debt/equity mix
Cost of debt
Cost of equity
Weighted average
cost of capital
(WACC)
Net operating
profit after taxes
Required investments
in operating capital
−
=
Determinants of Intrinsic Value:
Using Ratio Analysis
...
For value box in Ch 3 ratios FM13.
4
Overview
Ratios facilitate comparison of:
One company over time
One company versus other companies
Ratios are used by:
Lenders to determine creditworthiness
Stockholders to estimate future cash flows and risk
Managers to identify areas of weakness and strength
5
Income Statement20102011ESales$5,834,400 $7,035,600COGS4,980,000 5,800,000Other expenses720,000 612,960Deprec.116,960 120,000 Tot. op. costs5,816,960 6,532,960 EBIT17,440 502,640Int. expense176,000 80,000 EBT(158,560)422,640Taxes (40%)(63,424)169,056Net income($ 95,136)$ 253,584
6
Balance Sheets: Assets20102011ECash$ 7,282 $ 14,000S-T invest.20,000 71,632AR632,160 878,000Inventories1,287,360 1,716,480 Total CA1,946,802 2,680,112 Net FA939,790 836,840Total assets$2,886,592 $3,516,952
7
Balance Sheets: Liabilities & Equity20102011EAccts. payable$ 324,000 $ 359,800Notes payable720,000 300,000Accruals284,960 380,000 Total CL1,328,960 1,039,800Long-term debt1,000,000 500,000Common stock460,000 1,680,936Ret. earnings97,632 296,216 Total equity557,632 1,977,152Total L&E$2,886,592 $3,516,952
8
Other Data20102011EStock price$6.00$12.17# of shares100,000 250,000EPS-$0.95$1.01DPS$0.11$0.22Book val. per sh.$5.58$7.91Lease payments$40,000$40,000Tax rate0.40.4
9
Liquidity Ratios
Can the company meet its short-term obligations using the resources it currently has on hand?
10
Forecasted Current and Quick Ratios for 2011.
CR10 = = = 2.58.
QR10 =
= = 0.93.
CA
CL
$2,680
$1,040
$2,680 - $1,716
$1,040
CA - Inv.
CL
11
Comments on CR and QR2011E20102009Ind.CR2.581.462.32.7QR0.930.50.81.0
Expected to improve but still below the industry average.
Liquidity position is weak.
12
Asset Management Ratios
How efficiently does the firm use its assets?
How much does the firm have tied up in assets for each dollar of sales?
13
Inventory Turnover Ratio vs. Industry Average
Inv. turnover =
= = 4.10.
Sales
Inventories
$7,036
$1,716
2011E 2010 2009 Ind.
Inv. T. 4.1 4.5 4.8 6.1
14
Comments on Inventory Turnover
Inventory turnover is below industry average.
Firm might have old inventory, or its control might be poor.
No improvement is currently forecasted.
.
A crash course about startup valuation. Why is DCF difficult not to say useless for startups and better metrcis are comparables on profits, and even better sales (PE and PS°
For this assignment, you will complete the Financial Overview compon.docxzebadiahsummers
For this assignment, you will complete the Financial Overview component of your course project. To complete this assignment, use the Financial Analysis Toolkit Excel file, provided in the Resources, to complete a financial analysis of your chosen company (Apple Inc,) over the last two most recent years available in annual reports. Replace the numbers provided in the Excel file with the appropriate numbers for your firm. Then, write a 2–3 page financial analysis of your company, addressing the following elements:
Identify your company, its industry, and analyze the important segments (percentage of sales or subsidiaries) of your company compared to its industry and its overall business.
Perform a complete financial analysis of your chosen company's financial statements—horizontal, vertical (Percentage of Sales and Common-Size), and changes in ratios—for the last two years.
Compare all ratios to industry averages. Evaluate the company's ratios against the industry averages.
Explain the significance of the company's ratios when compared to industry averages.
Analyze the company's cash flows.
Assess the overall financial health of your company based on this financial analysis.
A great way to integrate your completed calculations from your Excel sheet into your written analysis is to paste pieces of the worksheet directly into your Word document. You are also encouraged to create graphs or charts from the data that may illustrate your analyses as well.
Tool Kit for Analysis of Financial Statements
Financial statements are analyzed by calculating certain key ratios and then comparing them with the ratios of other firms and by examining the trends in ratios over time.
We can also combine ratios to make the analysis more revealing, those indicated below are exceptionally useful for this type of analysis.
RATIO ANALYSIS (Section 3.1)
*NVIDIA Fiscal Years starts and ends on Jan 31, such that FY13 represents Jan 31,2012 to Jan31, 2013
Input Data:
2013
2012
Year-end common stock price
$12.26
$13.86
Year-end shares outstanding (in thousands)
616,756
612,191
Tax rate
15%
12%
After-tax cost of capital
Lease payments (in thousands)
$18,998
$21,439
Required sinking fund payments
$0
$0
Balance Sheets
(in thousands of dollars)
Assets
2013
2012
Cash and equivalents
$906,223
$767,218
* Added to cash and quivalents prepaid expense and deferred income taxes
Short-term investments
$2,995,097
$2,461,700
2013
2012
Accounts receivable
$454,252
$336,143
69,701
49,411
prepaid expenses and other
Inventories
$419,686
$340,297
103,736
49,931
deferred income taxes
Total current assets
$4,775,258
$3,905,358
Net plant and equipment
$1,636,987
$1,647,570
* In addition to equpment also includes goodwill, intangible assets, and other assets
Total assets
$6,412,245
$5,552,928
2013
2012
641,030
641,030
goodwill
.
C3 Took KitTHE HOME DEPOTTool Kit for Analysis of Financial Statem.docxRAHUL126667
C3 Took KitTHE HOME DEPOTTool Kit for Analysis of Financial Statements Financial statements are analyzed by calculating certain key ratios and then comparing them with the ratios of other firms and by examining the trends in ratios over time. We can also combine ratios to make the analysis more revealing, those indicated below are exceptionally useful for this type of analysis. RATIO ANALYSIS (Section 3.1)Input Data:20172016Year-end common stock price$23.00$26.00Year-end shares outstanding (in millions)5050Tax rate40%40%After-tax cost of capital11.0%10.8%Lease payments$28$28Required sinking fund payments$20$20Balance Sheets(in millions of dollars)Assets20172016Cash and equivalents$3,595$2,538Short-term investments$0$0Accounts receivable$1,952$2,029Inventories$12,748$12,549Other current assets$638$608 Total current assets$18,933$17,724Goodwill$22,075$21,914Other assets$1,246$1,235Net plant and equipment$2,275$2,093Total assets$44,529$42,966Liabilities and equityAccounts payable$7,244$7,000Short-term debt$1,559$710Sales taxes payable$520$508Deferred revenue$1,805$1,669Income tax payable$54$25Current Installments of long-term debt$1,202$542Other accrued expenses$2,170$2,195Accruals$1,640$1,484 Total current liabilities$16,194$14,133Long-term debt, excluding current installments$24,267$22,349Deferred income taxes$440$296Long-term bonds$2,174$1,855 Total liabilities$43,075$38,633Common stock (400,000 shares)$89$88Paid-in capital$10,192$9,787Retained earnings$39,935$35,519Treasury stock-$48,196-$40,194Accumulated other comprehensive loss-$566-$867Total common equity$1,454$4,245Total liabilities and equity$44,529$42,966Income Statements(in millions of dollars)20172016Net sales$100,904.0$94,595.0 Operating costs$66,548.0$62,282.0Earnings before interest, taxes, depr. & amort. (EBITDA)$34,356.0$32,313.0Selling, general and adminsitrative$17,864.0$17,132.0 Depreciation$1,811.0$1,754.0 Amortization$0.0$0.0 Depreciation and amortization$19,675.0$18,886.0Earnings before interest and taxes (EBIT)$14,681.0$13,427.0 Less interest $983.0$936.0Earnings before taxes (EBT)$13,698.0$12,491.0Provision for income taxes$5,068.0$4,534.0Net income before preferred dividends$8,630.0$7,957.0 Preferred dividends$0.0$0.0Net income available to common stockholders$8,630.0$7,957.0Common dividends$0.0$0.0Addition to retained earnings$8,630.0$7,957.0Calculated Data: Operating Performance and Cash Flows20172016Net operating working capital (NOWC)$9,411.0$8,632.0Total operating capital$11,686.0$10,725.0Net Operating Profit After Taxes (NOPAT)$8,808.6$8,056.2Net Cash Flow (Net income + Depreciation)$28,305.0$26,843.0Operating Cash Flow (OCF)$28,483.6$26,942.2Free Cash Flow (FCF)$7,847.6N/ACalculated Data: Per-share Information20172016Earnings per share (EPS)$172.60$159.14Dividends per share (DPS)$0.00$0.00Book value per share (BVPS)$29.08$84.90Cash flow per share (CFPS)$566.10$536.86Free cash flow per share (FCFPS)$156.95N/ALIQUIDITY RATIOS (Section 3.2)Indu ...
1
CHAPTER 3
Analysis of Financial Statements
2
Topics in Chapter
Ratio analysis
Du Pont system
Effects of improving ratios
Limitations of ratio analysis
Qualitative factors
3
Value = + + +
FCF1
FCF2
FCF∞
(1 + WACC)1
(1 + WACC)∞
(1 + WACC)2
Free cash flow
(FCF)
Market interest rates
Firm’s business risk
Market risk aversion
Firm’s debt/equity mix
Cost of debt
Cost of equity
Weighted average
cost of capital
(WACC)
Net operating
profit after taxes
Required investments
in operating capital
−
=
Determinants of Intrinsic Value:
Using Ratio Analysis
...
For value box in Ch 3 ratios FM13.
4
Overview
Ratios facilitate comparison of:
One company over time
One company versus other companies
Ratios are used by:
Lenders to determine creditworthiness
Stockholders to estimate future cash flows and risk
Managers to identify areas of weakness and strength
5
Income Statement20102011ESales$5,834,400 $7,035,600COGS4,980,000 5,800,000Other expenses720,000 612,960Deprec.116,960 120,000 Tot. op. costs5,816,960 6,532,960 EBIT17,440 502,640Int. expense176,000 80,000 EBT(158,560)422,640Taxes (40%)(63,424)169,056Net income($ 95,136)$ 253,584
6
Balance Sheets: Assets20102011ECash$ 7,282 $ 14,000S-T invest.20,000 71,632AR632,160 878,000Inventories1,287,360 1,716,480 Total CA1,946,802 2,680,112 Net FA939,790 836,840Total assets$2,886,592 $3,516,952
7
Balance Sheets: Liabilities & Equity20102011EAccts. payable$ 324,000 $ 359,800Notes payable720,000 300,000Accruals284,960 380,000 Total CL1,328,960 1,039,800Long-term debt1,000,000 500,000Common stock460,000 1,680,936Ret. earnings97,632 296,216 Total equity557,632 1,977,152Total L&E$2,886,592 $3,516,952
8
Other Data20102011EStock price$6.00$12.17# of shares100,000 250,000EPS-$0.95$1.01DPS$0.11$0.22Book val. per sh.$5.58$7.91Lease payments$40,000$40,000Tax rate0.40.4
9
Liquidity Ratios
Can the company meet its short-term obligations using the resources it currently has on hand?
10
Forecasted Current and Quick Ratios for 2011.
CR10 = = = 2.58.
QR10 =
= = 0.93.
CA
CL
$2,680
$1,040
$2,680 - $1,716
$1,040
CA - Inv.
CL
11
Comments on CR and QR2011E20102009Ind.CR2.581.462.32.7QR0.930.50.81.0
Expected to improve but still below the industry average.
Liquidity position is weak.
12
Asset Management Ratios
How efficiently does the firm use its assets?
How much does the firm have tied up in assets for each dollar of sales?
13
Inventory Turnover Ratio vs. Industry Average
Inv. turnover =
= = 4.10.
Sales
Inventories
$7,036
$1,716
2011E 2010 2009 Ind.
Inv. T. 4.1 4.5 4.8 6.1
14
Comments on Inventory Turnover
Inventory turnover is below industry average.
Firm might have old inventory, or its control might be poor.
No improvement is currently forecasted.
.
A crash course about startup valuation. Why is DCF difficult not to say useless for startups and better metrcis are comparables on profits, and even better sales (PE and PS°
For this assignment, you will complete the Financial Overview compon.docxzebadiahsummers
For this assignment, you will complete the Financial Overview component of your course project. To complete this assignment, use the Financial Analysis Toolkit Excel file, provided in the Resources, to complete a financial analysis of your chosen company (Apple Inc,) over the last two most recent years available in annual reports. Replace the numbers provided in the Excel file with the appropriate numbers for your firm. Then, write a 2–3 page financial analysis of your company, addressing the following elements:
Identify your company, its industry, and analyze the important segments (percentage of sales or subsidiaries) of your company compared to its industry and its overall business.
Perform a complete financial analysis of your chosen company's financial statements—horizontal, vertical (Percentage of Sales and Common-Size), and changes in ratios—for the last two years.
Compare all ratios to industry averages. Evaluate the company's ratios against the industry averages.
Explain the significance of the company's ratios when compared to industry averages.
Analyze the company's cash flows.
Assess the overall financial health of your company based on this financial analysis.
A great way to integrate your completed calculations from your Excel sheet into your written analysis is to paste pieces of the worksheet directly into your Word document. You are also encouraged to create graphs or charts from the data that may illustrate your analyses as well.
Tool Kit for Analysis of Financial Statements
Financial statements are analyzed by calculating certain key ratios and then comparing them with the ratios of other firms and by examining the trends in ratios over time.
We can also combine ratios to make the analysis more revealing, those indicated below are exceptionally useful for this type of analysis.
RATIO ANALYSIS (Section 3.1)
*NVIDIA Fiscal Years starts and ends on Jan 31, such that FY13 represents Jan 31,2012 to Jan31, 2013
Input Data:
2013
2012
Year-end common stock price
$12.26
$13.86
Year-end shares outstanding (in thousands)
616,756
612,191
Tax rate
15%
12%
After-tax cost of capital
Lease payments (in thousands)
$18,998
$21,439
Required sinking fund payments
$0
$0
Balance Sheets
(in thousands of dollars)
Assets
2013
2012
Cash and equivalents
$906,223
$767,218
* Added to cash and quivalents prepaid expense and deferred income taxes
Short-term investments
$2,995,097
$2,461,700
2013
2012
Accounts receivable
$454,252
$336,143
69,701
49,411
prepaid expenses and other
Inventories
$419,686
$340,297
103,736
49,931
deferred income taxes
Total current assets
$4,775,258
$3,905,358
Net plant and equipment
$1,636,987
$1,647,570
* In addition to equpment also includes goodwill, intangible assets, and other assets
Total assets
$6,412,245
$5,552,928
2013
2012
641,030
641,030
goodwill
.
Extra Credit Assignment, Econ 140 (3)Choose any topic discussed.docxnealwaters20034
Extra Credit Assignment, Econ 140 (3%)
Choose any topic discussed in the managerial economics class and write a 3 – 5 page essay with the following specifications.
1. Typed – Double spaced
2. Font Size - 12
3. Margins – 1 inch (top, bottom, right and left)
The paper should consist of the following:
(a) A discussion on your selected topic covering the main points.
(b) At least one news article related to the chosen topic, showing the application of the concept in the real world. You can easily find such news articles on google.
(c) Write in your own words what you’ve understood from the article(s) and how this relates to what you have learned in the Econ 140 class.
(d) Download (or scan) the articles and upload them along with your paper. The articles will not be included in the page count.
Other Requirements:
· Title of the paper and Your Name (Top corner of the first page)
· References (These should be on the last page of the assignment)
You can earn a maximum of 3% on this assignment. The grading TA’s decision regarding your assignment grade will be final; the assignment is not subject to grade-disputes. The assignments will be randomly distributed among the TAs for grading purpose.
(Keep in mind that late submissions or submissions via email will not be graded.)
1
Front Page
2
Memo
TO:
FROM:
DATE:
SUBJECT:
<text follows>
3
Table of contents
Appendix 1: Pro Forma FCF Page 4
Appendix 2 : Weighted Average Cost of Capital Page 5
Appendix 3 : Balance Sheets Page 6
Appendix 4 : Income Statements Page 8
Appendix 5 : Statements of Cash Flows Page 10
Appendix 6 : 10K Data Collection Page 11
Appendix 7: Market Return and Beta Page 12
4
Pro Format FCF
Value Drivers
Sales Growth 4.07%
Directly related to sales
Operating Expens es (excluding depreciation) 89.86%
Operating Current Assets 17.16%
Operating Current Liabilities 14.31%
Capital Expenditures 4.22%
Not directly related to sales
Depreciation Rate 6.09%
Interest Rate on Debt 5.53%
Interest Rate on ST Inves tments 1.73% <-- 1-year treasury yield (https://www.federalreserve.gov/releases/h15/)
Tax Rate 36.34%
Long term growth rate 0.00%
Unlevered Free Cash Flows Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 Jan-26 Jan-27 Jan-28 Jan-29
Sales $17,255,546 $17,958,617 $18,690,334 $19,451,865 $20,244,425 $21,069,276 $21,927,736 $22,821,174 $23,751,014 $24,718,741
Operating Expenses $15,506,519 $16,138,326 $16,795,877 $17,480,219 $18,192,444 $18,933,688 $19,705,135 $20,508,013 $21,343,605 $22,213,242
Depreciation $620,940 $665,274 $711,414 $759,435 $809,412 $861,425 $915,557 $971,895 $1,030,529 $1,091,552
Earnings Before Interest And Taxes $1,128,087 $1,155,017 $1,183,043 $1,212,212 $1,242,569 $1,274,163 $1,307,044 $1,341,265 $1,376,881 $1,413,947
Taxes $409,958 $419,745 $429,930 $440,530 $451,562 $463,044 $474,993 $487,429 $500,372 $513,842
Net Income $718,129 $735,272 $753,114 $771,682 $791,.
The Finance Perspective: The Business Model for the Subscription EconomyZuora, Inc.
Learn best practices for subscription financial management, with a focus on the ‘Three Metrics That Matter’, the new income statement for the Subscription Economy and how to apply it to your business. Learn best practices for subscription financial management, with a focus on the ‘Three Metrics That Matter’, the new income statement for the Subscription Economy and how to apply it to your business.
Monte Carl Simulation is a powerful and effective tool when used properly helps to navigate the expected Net Present Value NPV. This presentation helps to improve the pattern to ackowlege onthe Odessa Investment by Decision Dres.
ChapterTool KitChapter 1212912Corporate Valuation and Financial .docxtiffanyd4
ChapterTool KitChapter 1212/9/12Corporate Valuation and Financial Planning12-2 Financial Planning at MicroDrive, Inc.The process used by MicroDrive to forecast the free cash flows from its operating plan is described in the sections below.Setting Up the Model to Forecast OperationsWe begin with MicroDrive's most recent financial statements and selected additional data.Figure 12-1 MicroDrive’s Most Recent Financial Statements (Millions, Except for Per Share Data)INCOME STATEMENTSBALANCE SHEETS20122013Assets20122013Net sales$ 4,760$ 5,000Cash$ 60$ 50COGS (excl. depr.)3,5603,800ST Investments40-Depreciation170200Accounts receivable380500Other operating expenses480500Inventories8201,000EBIT$ 550$ 500Total CA$ 1,300$ 1,550Interest expense100120Net PP&E1,7002,000Pre-tax earnings$ 450$ 380Total assets$ 3,000$ 3,550Taxes (40%)180152NI before pref. div.$ 270$ 228Liabilities and equityPreferred div.88Accounts payable$ 190$ 200Net income$ 262$ 220Accruals280300Notes payable130280Other DataTotal CL$ 600$ 780Common dividends$48$50Long-term bonds1,0001,200Addition to RE$214$170Total liabilities$ 1,600$ 1,980Tax rate40%40%Preferred stock100100Shares of common stock5050Common stock500500Earnings per share$5.24$4.40Retained earnings800970Dividends per share$0.96$1.00Total common equity$ 1,300$ 1,470Price per share$40.00$27.00Total liabs. & equity$ 3,000$ 3,550The figure below shows all the inputs required to project the financial statements for the scenario that has been selected with the Scenario Manager: Data, What-If Analysis, Scenario Manager. There are two scenarios. The first is named Status Quo because all operating ratios except the sales growth rate are assumed to remain unchanged. The initial sales growth rate was chosen by MicroDrive's managers based on the existing product lines. The growth rate declines over time until it eventually levels off at a sustainable rate. The other scenario is named Final because it is the set of inputs chosen by MicroDrive's management team.Section 1 shows the inputs required to estimate the items in an operating plan. For each of these inputs, Section 1 shows the industry averages, the actual values for the past two years for MicroDrive, and the forecasted values for the next five years. The managers assumed the inputs for future years (except the sales growth rate) would be equal to the inputs in the first projected year.MicroDrive's managers assume that sales will eventually level off at a sustaniable constant rate.Sections 2 and 3 show the data required to estimate the weighted average cost of capital. Section 4 shows the forecasted growth rate in dividends.Note: These inputs are linked throughout the model. If you want to change an input, do it here and not other places in the model.Figure 12-2MicroDrive's Forecast: Inputs for the Selected ScenarioStatus QuoIndustryMicroDriveMicroDriveInputsActualActualForecast1. Operating Ratios2013201220132014201520162017201.
[Type text] [Type text] [Type text]
Part 1: Native American’s Forced Assimilation
Instructions: Watch the video
( https://www.vox.com/2019/10/14/20913408/us-stole-thousands-of-native-american-children) to get a history of assimilation in theUS. Then answer the following questions.
1.What was the purpose for the forced assimilation of Native Americans?
2.Name two strategies the US used to assimilate Native Americans and explain how each of these strategies worked.
Part 2: Keywords for Asian American Studie “Assimilation” (pp. 14-17) https://books.google.com/books?id=bo_dBwAAQBAJ&printsec=frontcover&dq=Keywords+for+Asian+American+Studie&hl=en&newbks=1&newbks_redir=0&sa=X&ved=2ahUKEwjsrcHi7OnnAhWnl3IEHeZyDKMQ6AEwAHoECAUQAg#v=onepage&q=Keywords%20for%20Asian%20American%20Studie&f=false
Instructions: Answer the following questions. Provide a passage from the reading (i.e., “Assimilation”) in addition to your response to support your responses.
1.What are the five different definitions or perspectives on assimilation? As you identify them, note which one you think is most accurate for the contemporary situation of assimilation.
2.According to Lisa Park, how is assimilation enforced in our society?
3.What are the criticism of assimilation?4.What does Lisa Park say is a unique experience of assimilation for Asian Americans? (p. 17)
Part 3: Assessing assimilation in our societyAnswer the following questions based on your observations, experiences, or insights.
1.Do immigrants have a duty to learn and adopt the local culture, or should they try to retain their native culture?
2.What does successful assimilation look like? What are some results of it?
3.What does unsuccessful assimilation look like? What are some results of it?
4.How does race fact into the process or act of assimilation?
Valuation outputBase year12345678910Terminal yearRevenue growth rate70.00%70.00%70.00%70.00%70.00%56.55%43.10%29.65%16.20%2.75%2.75%Revenues$ 1,328.70$ 2,258.78$ 3,839.93$ 6,527.88$ 11,097.40$ 18,865.58$ 29,534.07$ 42,263.25$ 54,794.31$ 63,670.99$ 65,421.94$ 67,221.04EBIT (Operating) margin-1.64%-0.23%1.18%2.60%4.01%5.43%6.84%8.26%9.67%11.09%12.50%12.50%EBIT (Operating income)$ (21.86)$ (5.21)$ 45.46$ 169.63$ 445.34$ 1,023.93$ 2,020.72$ 3,489.47$ 5,299.16$ 7,058.25$ 8,177.74$ 8,402.63Tax rate0.00%0.00%0.00%0.00%0.00%0.00%7.00%14.00%21.00%28.00%35.00%35.00%EBIT(1-t)$ (21.86)$ (5.21)$ 45.46$ 169.63$ 445.34$ 1,023.93$ 1,879.27$ 3,000.94$ 4,186.33$ 5,081.94$ 5,315.53$ 5,461.71- Reinvestment$ 659.64$ 1,121.38$ 1,906.35$ 3,240.79$ 5,509.35$ 7,566.30$ 9,027.79$ 8,887.27$ 6,295.52$ 1,241.81$ 1,877.46FCFF$ (664.84)$ (1,075.92)$ (1,736.72)$ (2,795.45)$ (4,485.42)$ (5,687.03)$ (6,026.85)$ (4,700.94)$ (1,213.58)$ 4,073.72$ 3,584.25Cost of capital10.03%10.03%10.03%10.03%10.03%9.63%9.22%8.81%8.41%8.
Analysis of Financial Statements.(Ratio analysis, Du Pont system ,Effects of ...Tanjin Tamanna urmi
Five Categories of Fin. Ratios
Liquidity: Ability to meet current obligations
Asset Mgmt: Proper & effective use of assets
Asset utilization (i.e., Total Asset Turnover Ratio:
TAT = Sales / T. Assets
Debt Mgmt: extent of debt & level of safety afforded creditors
Debt utilization (i.e., Equity Multiplier:
EM = T. Assets / T. Eqty
Profitability: reflects effects of liquidity, asset mgmt, & debt on operating results
Expense Control: Profit Margin:
PM = Net Income / Sales
Market Value: indicators of what investors think of firm’s past results & future prospects
Investing Concept Of Risk And Return PowerPoint Presentation Slides SlideTeam
Every organization needs to adapt to the ever-changing business environment. Sensing this need, we have come up with these content-ready change management PowerPoint presentation slides. These change management PPT templates will help you deal with any kind of an organizational change. Be it with people, goals or processes. The business solutions incorporated here will help you identify the organizational structure, create vision for change, implement strategies, identify resistance and risk, manage cost of change, get feedback and evaluation, and much more. With the help of various change management tools and techniques illustrated in this presentation design, you can achieve the desired business outcomes. This business transition PowerPoint design also covers certain related topics such as change model, transformation strategy, change readiness, change control, project management and business process. By implementing the change control methods mentioned in the presentation, you will be able to have a smooth transition in an organization. So, without waiting much, download our extensively researched change management framework presentation. With our Change Management Presentation slides, understand the need for change and plan to go through it without any hassles.
Evaluate the role of leadership on organizational behaviorProv.docxhumphrieskalyn
Evaluate the role of leadership on organizational behavior
Provide the name of the corporation you will be using as the basis for this project.
Provide the organization’s purpose or mission statement.
Describe the organization's industry.
Provide the name and position of the person interviewed during this portion of the assignment (indicate as much pertinent information (e.g., length of service with company, previous roles in the company, educational background, etc.).
Provide the list of interview questions you asked the manager/executive.
Indicate which two - three of the following concepts from this competency that you intend to evaluate the organization/team on and describe the company’s/team’s current situation with each topic you’ve selected:
Power and politics
Communication
Organizational leadership
Organizational structure
Organizational change
Provide citations in APA format for any references.
.
Evaluate the role that PKI plays in cryptography.Ensure that you.docxhumphrieskalyn
Evaluate the role that PKI plays in cryptography.
Ensure that your initial discussion posting has been created by Thursday of each week and then you respond to a minimum of two other learners during the week. Your response must build upon the initial learner's comments. Please ensure that you properly APA format your writing. 500 words.
You must also use a scholarly source
.
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Extra Credit Assignment, Econ 140 (3%)
Choose any topic discussed in the managerial economics class and write a 3 – 5 page essay with the following specifications.
1. Typed – Double spaced
2. Font Size - 12
3. Margins – 1 inch (top, bottom, right and left)
The paper should consist of the following:
(a) A discussion on your selected topic covering the main points.
(b) At least one news article related to the chosen topic, showing the application of the concept in the real world. You can easily find such news articles on google.
(c) Write in your own words what you’ve understood from the article(s) and how this relates to what you have learned in the Econ 140 class.
(d) Download (or scan) the articles and upload them along with your paper. The articles will not be included in the page count.
Other Requirements:
· Title of the paper and Your Name (Top corner of the first page)
· References (These should be on the last page of the assignment)
You can earn a maximum of 3% on this assignment. The grading TA’s decision regarding your assignment grade will be final; the assignment is not subject to grade-disputes. The assignments will be randomly distributed among the TAs for grading purpose.
(Keep in mind that late submissions or submissions via email will not be graded.)
1
Front Page
2
Memo
TO:
FROM:
DATE:
SUBJECT:
<text follows>
3
Table of contents
Appendix 1: Pro Forma FCF Page 4
Appendix 2 : Weighted Average Cost of Capital Page 5
Appendix 3 : Balance Sheets Page 6
Appendix 4 : Income Statements Page 8
Appendix 5 : Statements of Cash Flows Page 10
Appendix 6 : 10K Data Collection Page 11
Appendix 7: Market Return and Beta Page 12
4
Pro Format FCF
Value Drivers
Sales Growth 4.07%
Directly related to sales
Operating Expens es (excluding depreciation) 89.86%
Operating Current Assets 17.16%
Operating Current Liabilities 14.31%
Capital Expenditures 4.22%
Not directly related to sales
Depreciation Rate 6.09%
Interest Rate on Debt 5.53%
Interest Rate on ST Inves tments 1.73% <-- 1-year treasury yield (https://www.federalreserve.gov/releases/h15/)
Tax Rate 36.34%
Long term growth rate 0.00%
Unlevered Free Cash Flows Jan-20 Jan-21 Jan-22 Jan-23 Jan-24 Jan-25 Jan-26 Jan-27 Jan-28 Jan-29
Sales $17,255,546 $17,958,617 $18,690,334 $19,451,865 $20,244,425 $21,069,276 $21,927,736 $22,821,174 $23,751,014 $24,718,741
Operating Expenses $15,506,519 $16,138,326 $16,795,877 $17,480,219 $18,192,444 $18,933,688 $19,705,135 $20,508,013 $21,343,605 $22,213,242
Depreciation $620,940 $665,274 $711,414 $759,435 $809,412 $861,425 $915,557 $971,895 $1,030,529 $1,091,552
Earnings Before Interest And Taxes $1,128,087 $1,155,017 $1,183,043 $1,212,212 $1,242,569 $1,274,163 $1,307,044 $1,341,265 $1,376,881 $1,413,947
Taxes $409,958 $419,745 $429,930 $440,530 $451,562 $463,044 $474,993 $487,429 $500,372 $513,842
Net Income $718,129 $735,272 $753,114 $771,682 $791,.
The Finance Perspective: The Business Model for the Subscription EconomyZuora, Inc.
Learn best practices for subscription financial management, with a focus on the ‘Three Metrics That Matter’, the new income statement for the Subscription Economy and how to apply it to your business. Learn best practices for subscription financial management, with a focus on the ‘Three Metrics That Matter’, the new income statement for the Subscription Economy and how to apply it to your business.
Monte Carl Simulation is a powerful and effective tool when used properly helps to navigate the expected Net Present Value NPV. This presentation helps to improve the pattern to ackowlege onthe Odessa Investment by Decision Dres.
ChapterTool KitChapter 1212912Corporate Valuation and Financial .docxtiffanyd4
ChapterTool KitChapter 1212/9/12Corporate Valuation and Financial Planning12-2 Financial Planning at MicroDrive, Inc.The process used by MicroDrive to forecast the free cash flows from its operating plan is described in the sections below.Setting Up the Model to Forecast OperationsWe begin with MicroDrive's most recent financial statements and selected additional data.Figure 12-1 MicroDrive’s Most Recent Financial Statements (Millions, Except for Per Share Data)INCOME STATEMENTSBALANCE SHEETS20122013Assets20122013Net sales$ 4,760$ 5,000Cash$ 60$ 50COGS (excl. depr.)3,5603,800ST Investments40-Depreciation170200Accounts receivable380500Other operating expenses480500Inventories8201,000EBIT$ 550$ 500Total CA$ 1,300$ 1,550Interest expense100120Net PP&E1,7002,000Pre-tax earnings$ 450$ 380Total assets$ 3,000$ 3,550Taxes (40%)180152NI before pref. div.$ 270$ 228Liabilities and equityPreferred div.88Accounts payable$ 190$ 200Net income$ 262$ 220Accruals280300Notes payable130280Other DataTotal CL$ 600$ 780Common dividends$48$50Long-term bonds1,0001,200Addition to RE$214$170Total liabilities$ 1,600$ 1,980Tax rate40%40%Preferred stock100100Shares of common stock5050Common stock500500Earnings per share$5.24$4.40Retained earnings800970Dividends per share$0.96$1.00Total common equity$ 1,300$ 1,470Price per share$40.00$27.00Total liabs. & equity$ 3,000$ 3,550The figure below shows all the inputs required to project the financial statements for the scenario that has been selected with the Scenario Manager: Data, What-If Analysis, Scenario Manager. There are two scenarios. The first is named Status Quo because all operating ratios except the sales growth rate are assumed to remain unchanged. The initial sales growth rate was chosen by MicroDrive's managers based on the existing product lines. The growth rate declines over time until it eventually levels off at a sustainable rate. The other scenario is named Final because it is the set of inputs chosen by MicroDrive's management team.Section 1 shows the inputs required to estimate the items in an operating plan. For each of these inputs, Section 1 shows the industry averages, the actual values for the past two years for MicroDrive, and the forecasted values for the next five years. The managers assumed the inputs for future years (except the sales growth rate) would be equal to the inputs in the first projected year.MicroDrive's managers assume that sales will eventually level off at a sustaniable constant rate.Sections 2 and 3 show the data required to estimate the weighted average cost of capital. Section 4 shows the forecasted growth rate in dividends.Note: These inputs are linked throughout the model. If you want to change an input, do it here and not other places in the model.Figure 12-2MicroDrive's Forecast: Inputs for the Selected ScenarioStatus QuoIndustryMicroDriveMicroDriveInputsActualActualForecast1. Operating Ratios2013201220132014201520162017201.
[Type text] [Type text] [Type text]
Part 1: Native American’s Forced Assimilation
Instructions: Watch the video
( https://www.vox.com/2019/10/14/20913408/us-stole-thousands-of-native-american-children) to get a history of assimilation in theUS. Then answer the following questions.
1.What was the purpose for the forced assimilation of Native Americans?
2.Name two strategies the US used to assimilate Native Americans and explain how each of these strategies worked.
Part 2: Keywords for Asian American Studie “Assimilation” (pp. 14-17) https://books.google.com/books?id=bo_dBwAAQBAJ&printsec=frontcover&dq=Keywords+for+Asian+American+Studie&hl=en&newbks=1&newbks_redir=0&sa=X&ved=2ahUKEwjsrcHi7OnnAhWnl3IEHeZyDKMQ6AEwAHoECAUQAg#v=onepage&q=Keywords%20for%20Asian%20American%20Studie&f=false
Instructions: Answer the following questions. Provide a passage from the reading (i.e., “Assimilation”) in addition to your response to support your responses.
1.What are the five different definitions or perspectives on assimilation? As you identify them, note which one you think is most accurate for the contemporary situation of assimilation.
2.According to Lisa Park, how is assimilation enforced in our society?
3.What are the criticism of assimilation?4.What does Lisa Park say is a unique experience of assimilation for Asian Americans? (p. 17)
Part 3: Assessing assimilation in our societyAnswer the following questions based on your observations, experiences, or insights.
1.Do immigrants have a duty to learn and adopt the local culture, or should they try to retain their native culture?
2.What does successful assimilation look like? What are some results of it?
3.What does unsuccessful assimilation look like? What are some results of it?
4.How does race fact into the process or act of assimilation?
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Five Categories of Fin. Ratios
Liquidity: Ability to meet current obligations
Asset Mgmt: Proper & effective use of assets
Asset utilization (i.e., Total Asset Turnover Ratio:
TAT = Sales / T. Assets
Debt Mgmt: extent of debt & level of safety afforded creditors
Debt utilization (i.e., Equity Multiplier:
EM = T. Assets / T. Eqty
Profitability: reflects effects of liquidity, asset mgmt, & debt on operating results
Expense Control: Profit Margin:
PM = Net Income / Sales
Market Value: indicators of what investors think of firm’s past results & future prospects
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Every organization needs to adapt to the ever-changing business environment. Sensing this need, we have come up with these content-ready change management PowerPoint presentation slides. These change management PPT templates will help you deal with any kind of an organizational change. Be it with people, goals or processes. The business solutions incorporated here will help you identify the organizational structure, create vision for change, implement strategies, identify resistance and risk, manage cost of change, get feedback and evaluation, and much more. With the help of various change management tools and techniques illustrated in this presentation design, you can achieve the desired business outcomes. This business transition PowerPoint design also covers certain related topics such as change model, transformation strategy, change readiness, change control, project management and business process. By implementing the change control methods mentioned in the presentation, you will be able to have a smooth transition in an organization. So, without waiting much, download our extensively researched change management framework presentation. With our Change Management Presentation slides, understand the need for change and plan to go through it without any hassles.
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Provide the name of the corporation you will be using as the basis for this project.
Provide the organization’s purpose or mission statement.
Describe the organization's industry.
Provide the name and position of the person interviewed during this portion of the assignment (indicate as much pertinent information (e.g., length of service with company, previous roles in the company, educational background, etc.).
Provide the list of interview questions you asked the manager/executive.
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Power and politics
Communication
Organizational leadership
Organizational structure
Organizational change
Provide citations in APA format for any references.
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.
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Requirements:
Make sure all of the topics in the case study have been addressed.
Cite at least three sources; journal articles, textbooks or evidenced-based websites to support the content.
All sources must be within 5 years.
Do not use .com, Wikipedia, or up-to-date, etc., for your sources.
Case Study 1
Structure and Function of the Respiratory System
Brad is 45 years old and has been working as a coal cutter in a mine for the last 25 years. He likes the job because it pays well and the same mine had employed his father. Like many of his colleagues, Brad has had problems with a chronic cough. He has avoided his annual checkups for fear that he will be told he has “black lung,” or coal worker’s pneumoconiosis. The disease causes fibrosis, decreased diffusing capacity, and permanent small airway dilation. In later stages, pulmonary capillaries, alveoli, and airways are destroyed.
How can the disease described above create a mismatch between ventilation and perfusion? Use your understanding of alveolar dead space and physiologic shunt to explain your answer.
Individuals with chronic obstructive pulmonary disease have more difficulty exhaling than inhaling. Why is this so?
In general terms, what mechanisms in lung disease can affect diffusing capacity across alveolar membranes? Use the Fick law to explain your answer.
Case Study 2
Respiratory Tract Infections, Neoplasms, and Childhood Disorders
Patricia was called at work by a woman at the local daycare center. She told Patricia to come and pick up her son because he was not feeling well. Her son, three-and-a-half-year-old Marshall, had been feeling tired and achy when he woke up. While at daycare, his cheeks had become red and he was warm to touch. He did not want to play with his friends, and by the time Patricia arrived, he was crying. Later that afternoon, Marshall’s condition worsened. He had fever, chills, a sore throat, runny nose, and a dry hacking cough. Suspecting Marshall had influenza, Patricia wrapped him up and took him to the community health care clinic.
Why did Marshall’s presentation lead Patricia to think he had influenza and not a cold? Why is it important to medically evaluate and diagnose a potential influenza infection?
Describe the pathophysiology of the influenza virus. Outline the properties of influenza A antigens that allow them to exert their effects in the host.
Marshall may be at risk at contracting secondary bacterial pneumonia. Why is this so? Explain why cyanosis may be a feature associated with pneumonia.
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Disorders of Ventilation and Gas Exchange
Emmanuel and his mother live in an.
Evaluate the role of a digital certificate in cryptography. How doe.docxhumphrieskalyn
Evaluate the role of a digital certificate in cryptography. How does it impact the security posture of an organization?
Write a minimum of 2 to pages
The Paper must include scholarly references of 2
Make sure to follow APA Guidelines
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EV 551 Hazardous Materials Assessment – Summer2020
Homework 1 – 40 points
1. Which of the following is not a part of the HAZWOPER process:
a.
Recognition of hazards
b.
Evaluation of hazards
c.
Control of hazards
d.
Information gathering
e.
Safety from hazards
f.
All are part of the process
2.
Hazardous waste site workers must:
a.
Receive 40-hour OSHA 1910.120 training plus 24 hours of field supervision if exposed over the PEL
b.
Receive 40-hour training plus 8 hours field supervision if exposed below the PEL and when respirators are not required
c.
8-hour annual refresher training
d.
All of the above
3.
First Responder Operations level training allows persons to:
a.
Witness or discover a release
b.
Perform defensive actions
c.
Stop the release
d.
A and B are true
e.
All of the above
4.
Recognition of hazards includes:
a.
Identifying the materials involved in the release
b.
Identifying the degree of hazards present
c.
Provide the level of protection needed for site workers
d.
A and B are correct
e.
All of the above
5.
The most important response activity at a hazardous waste work site is:
a.
Evaluation of hazards
b.
Control of hazards
c.
Recognition of hazards
d.
Safety precautions
6.
Frequent hazard types found at response sites include:
a.
Physical hazards
b.
Biological hazards
c.
Chemical hazards
d.
Mechanical hazards
e.
All of the above
7.
The purpose of initial control activities is to:
a.
Immediately assess clean up alternatives
b.
Provide time to responders to address long-term hazards
c.
Slowly size up response activities
d.
Both A and B are correct
e.
None of the above
8.
Spill reporting is covered by which of these federal regulations:
a.
Superfund
b.
DOT
c.
RCRA
d.
Clean Water Act
e.
A, B, and D are correct
9.
The effects of toxic materials on the human body are determined by:
a.
Routes of exposure
b.
Dose
c.
Duration and frequency of exposure
d.
All of the above
10.
What are the four major pathways that chemical substances can enter the body?
a.
___________________________________________________
b.
___________________________________________________
c.
___________________________________________________
d.
___________________________________________________
11.
What is the primary route of exposure to hazardous waste site workers or incident
responders?
a.
Ingestion
b.
Dermal absorption
c.
Inhalation
d.
Both a and b are correct
12.
Dermal absorption may occur with which form(s) of a chemical:
a.
Solid
b.
Liquid
c.
Aerosol
d.
Mist
e.
All of the above
13.
The dose-response curve illustrates:
a.
The indirect relationship between dose and response
b.
The direct relationship between dose and response
c.
The average number of affected individuals
d.
None of the above
14.
For most chemicals, a low dose does that does not show an appreciable hazard to exposed individuals is called the:
a.
LOAEL
.
Evaluate the history of cryptography from its origins. Analyze how .docxhumphrieskalyn
Evaluate the history of cryptography from its origins. Analyze how cryptography was used and describe how it grew within history.
The writing assignment requires a minimum of two written pages to evaluate the history. You must use a minimum of three scholarly articles to complete the assignment. The assignment must be properly APA formatted with a separate title and reference page.
.
Evaluate the evidence provided by Apollo Shoes.Decide how to s.docxhumphrieskalyn
Evaluate
the evidence provided by Apollo Shoes.
Decide
how to structure the audit report for the provided evidence.
Compose
an audit report
reflecting the appropriate length, sections, and content for the provided information.
Include
a description of the evidence, the accounting sampling and testing procedures used, and a brief description of the value of the audit report
Can anyone do this assignement. It is due by 9pm 11/12/2012 Eastern Standard Time..
.
Evaluate the Health History and Medical Information for Mrs. J.,.docxhumphrieskalyn
Evaluate the Health History and Medical Information for Mrs. J., presented below.
Based on this information, formulate a conclusion based on your evaluation, and complete the Critical Thinking Essay assignment, as instructed below.
Health History and Medical Information
Health History
Mrs. J. is a 63-year-old married woman who has a history of hypertension, chronic heart failure, and chronic obstructive pulmonary disease (COPD). Despite requiring 2L of oxygen/nasal cannula at home during activity, she continues to smoke two packs of cigarettes a day and has done so for 40 years. Three days ago, she had sudden onset of flu-like symptoms including fever, productive cough, nausea, and malaise. Over the past 3 days, she has been unable to perform ADLs and has required assistance in walking short distances. She has not taken her antihypertensive medications or medications to control her heart failure for 3 days. Today, she has been admitted to the hospital ICU with acute decompensated heart failure and acute exacerbation of COPD.
Subjective Data
Is very anxious and asks whether she is going to die.
Denies pain but says she feels like she cannot get enough air.
Says her heart feels like it is "running away."
Reports that she is exhausted and cannot eat or drink by herself.
Objective Data
Height 175 cm; Weight 95.5kg.
Vital signs: T 37.6C, HR 118 and irregular, RR 34, BP 90/58.
Cardiovascular: Distant S1, S2, S3 present; PMI at sixth ICS and faint: all peripheral pulses are 1+; bilateral jugular vein distention; initial cardiac monitoring indicates a ventricular rate of 132 and atrial fibrillation.
Respiratory: Pulmonary crackles; decreased breath sounds right lower lobe; coughing frothy blood-tinged sputum; SpO2 82%.
Gastrointestinal: BS present: hepatomegaly 4cm below costal margin.
Intervention
The following medications administered through drug therapy control her symptoms:
IV furosemide (Lasix)
Enalapril (Vasotec)
Metoprolol (Lopressor)
IV morphine sulphate (Morphine)
Inhaled short-acting bronchodilator (ProAir HFA)
Inhaled corticosteroid (Flovent HFA)
Oxygen delivered at 2L/ NC
Critical Thinking Essay
In 750-1,000 words, critically evaluate Mrs. J.'s situation. Include the following:
Describe the clinical manifestations present in Mrs. J.
Discuss whether the nursing interventions at the time of her admissions were appropriate for Mrs. J. and explain the rationale for each of the medications listed.
Describe four cardiovascular conditions that may lead to heart failure and what can be done in the form of medical/nursing interventions to prevent the development of heart failure in each condition.
Taking into consideration the fact that most mature adults take at least six prescription medications, discuss four nursing interventions that can help prevent problems caused by multiple drug interactions in older patients. Provide a rationale for each of the interventions you recommend.
Provide a health promotion .
Evaluate the current state of the health care system in Sacramento. .docxhumphrieskalyn
Evaluate the current state of the health care system in Sacramento. Read local newspaper articles, watch videos, and explore government and health care sites for information about challenges to the city’s health care needs (shortages, financial difficulties, privacy issues, etc.).
Propose a new or improved health care service that you would introduce into the community. Explain why the service is needed and how it would improve the community.
Design a new health care facility that would offer a new or an improved service to the community. Present a floor plan of the facility that includes the surface area, purpose for, and description of each space.
Write a 700 - to 1,050–word report about the state of health care in your selected city, your proposal for a new or improved service, and the floor plan of a facility to implement that service.
.
Evaluate the advantages and disadvantages of the various decis.docxhumphrieskalyn
Evaluate the advantages and disadvantages of the various decision-making tools listed (e.g., regular payback, discounted payback, net present value (NPV), internal rate of return (IRR), and modified internal rate of return).
Describe a project scenario in which you would recommend one method, or a combination of methods, as being more effective than others. Draw from your professional experience and/or additional research, and provide a rationale for your recommendation.
.
Evaluate some technologies that can help with continuous monitoring..docxhumphrieskalyn
Evaluate some technologies that can help with continuous monitoring. One example of many is Cyberscope, an automated reporting tool for security reporting that receives recurring data feeds to assess the security posture of IT systems. Discuss the pros and cons of using continuous monitoring tools and make other suggestions to improve continuous monitoring.
In the second week, discuss the major challenges in continuous monitoring of information systems security.
*will send 2 classmates after completion of discussion so you can respond!
.
Evaluate progress on certification plansReport your prog.docxhumphrieskalyn
Evaluate progress on certification plans
Report your progress on the Certification Plan completed in Week 1 and submitted in Week 4.
What have you done to prepare for your certification?
Have you completed the scheduled tasks assigned on your timeline? If not, what are your plans to stay on schedule?
Rubric:
Quality of Work Submitted:
The extent of which work meets the assigned criteria and work reflects graduate level critical and analytic thinking.--
Quality of Work Submitted:
The purpose of the paper is clear.--
Written Expression and Formatting
Paragraph and Sentence Structure: Paragraphs make clear points that support well developed ideas, flow logically, and demonstrate continuity of ideas. Sentences are clearly structured and carefully focused--neither long and rambling nor short and lacking substance.--
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Evaluate how you have achieved course competencies and your plans to.docxhumphrieskalyn
Evaluate how you have achieved course competencies and your plans to develop further in these areas. The course competencies for this course are as follows:
Explore the historical evolution of the advance practice nurse.
Differentiate the roles and scope of practice for nurses working in advanced clinical, education, administration, informatics, research, and health policy arenas.
Analyze attributes of the practice arena such as access and availability, degree of consumer choice, competition, and financing that impact advanced practice nurses and their ability to effectively collaborate with other health professionals.
Integrate evidence from research and theory into discussions of practice competencies, health promotion and disease prevention strategies, quality improvement, and safety standards.
Identify collaborative, organizational, communication, and leadership skills in working with other professionals in healthcare facilities and/or academic institutions.
Synthesize knowledge from values theory, ethics, and legal/regulatory statutes in the development of a personal philosophy for a career as an advanced practice nurse.
.
Evaluate how information privacy and security relates to the Interne.docxhumphrieskalyn
Evaluate how information privacy and security relates to the Internet, which is the major information conduit for businesses and individuals.
Write a paragraph of at least 200 words addressing the following: Explain how your expectations for Internet privacy differ for the following situations: Accessing the web at home, at work, and in a public setting, such as a library computer lab or Wi–Fi zone. What is the basis for your expectations? Is it legal to use your neighbors’ wireless Internet signal? Is it ethical? Explain your reasoning.
.
Evaluate assessment of suicide in forensic settings andor cri.docxhumphrieskalyn
Evaluate assessment of suicide in forensic settings and/or criminal justice institutions by addressing the following:
Who would serve on the task force?
Who would be involved in suicide prevention or identification if you were able to intervene at the institution?
What would the interventions look like? What would be some of the policies and procedures that you might implement to ensure that best practices are met?
Provide specific examples based on your current or future forensic role.
Include an analysis of your own prejudices and biases regarding inmate suicides (e.g., consider a child murderer).
.
Evaluate different approaches to ethical decision making. Then, choo.docxhumphrieskalyn
Evaluate different approaches to ethical decision making. Then, choose one of them to apply to an ethical issue you have identified.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
Competency 1: Evaluate the parameters for ethical decision making in 21st century multicultural business environments.
Evaluate the parameters of various ethical decision-making approaches.
Competency 3: Evaluate organizational policy within the framework of ethical standards.
Analyze an ethical dilemma using an ethical decision-making approach.
Assess the validity of a resolution suggested by a selected ethical decision-making approach.
Competency 4: Communicate effectively.
Communicate the analysis of ethical decision making clearly and effectively.
.
Evaluate and grade websites in terms of their compliance with PL pri.docxhumphrieskalyn
Evaluate and grade websites in terms of their compliance with PL principles. You will first do this with a local government site (Project 1a) and then with a federal site (Project 1b). You will perform the same analysis and evaluation that is done by those who volunteer with the Center for Plain Language to review and grade federal websites as part of the plain language Federal Report Card.
.
Evaluate at least (2) factors that make financial statement analys.docxhumphrieskalyn
Evaluate at least (2) factors that make financial statement analysis essential to management, investors, and creditors. Provide a rationale for your response.
Imagine you are considering investing in a corporation. Examine the key information you would look for in a company’s financial statements and explain why this information would be important to you. Suggest at least two (2) financial statement analysis tools you would use to evaluate this company’s financial statements. Provide a rationale for your suggestions.
.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Normal Labour/ Stages of Labour/ Mechanism of LabourWasim Ak
Normal labor is also termed spontaneous labor, defined as the natural physiological process through which the fetus, placenta, and membranes are expelled from the uterus through the birth canal at term (37 to 42 weeks
C3 Took KitTool Kit for Analysis of Financial Statements Financial.docx
1. C3 Took KitTool Kit for Analysis of Financial Statements
Financial statements are analyzed by calculating certain key
ratios and then comparing them with the ratios of other firms
and by examining the trends in ratios over time. We can also
combine ratios to make the analysis more revealing, those
indicated below are exceptionally useful for this type of
analysis. RATIO ANALYSIS (Section 3.1)Input
Data:20102009Year-end common stock price$23.00$26.00Year-
end shares outstanding (in millions)5050Tax rate40%40%After-
tax cost of capital11.0%10.8%Lease payments$28$28Required
sinking fund payments$20$20Balance Sheets(in millions of
dollars)Assets20102009Cash and equivalents$10$15Short-term
investments$0$65Accounts
receivable$375$315Inventories$615$415 Total current
assets$1,000$810Net plant and equipment$1,000$870Total
assets$2,000$1,680Liabilities and equityAccounts
payable$60$30Notes payable$110$60Accruals$140$130 Total
current liabilities$310$220Long-term bonds$754$580 Total
liabilities$1,064$800Preferred stock (400,000
shares)$40$40Common stock (50,000,000
shares)$130$130Retained earnings$766$710Total common
equity$896$840Total liabilities and equity$2,000$1,680Income
Statements(in millions of dollars)20102009Net
sales$3,000.0$2,850.0 Operating
costs$2,616.2$2,497.0Earnings before interest, taxes, depr. &
amort. (EBITDA)$383.8$353.0 Depreciation$100.0$90.0
Amortization$0.0$0.0 Depreciation and
amortization$100.0$90.0Earnings before interest and taxes
(EBIT)$283.8$263.0 Less interest $88.0$60.0Earnings before
taxes (EBT)$195.8$203.0 Taxes (40%)$78.3$81.2Net income
before preferred dividends$117.5$121.8 Preferred
dividends$4.0$4.0Net income available to common
stockholders$113.5$117.8Common
dividends$57.5$53.0Addition to retained
2. earnings$56.0$64.8Calculated Data: Operating Performance
and Cash Flows20102009Net operating working capital
(NOWC)$800.0$585.0Total operating
capital$1,800.0$1,455.0Net Operating Profit After Taxes
(NOPAT)$170.3$157.8Net Cash Flow (Net income +
Depreciation)$213.5$207.8Operating Cash Flow
(OCF)$270.3$247.8Free Cash Flow
(FCF)($174.7)N/ACalculated Data: Per-share
Information20102009Earnings per share
(EPS)$2.27$2.36Dividends per share (DPS)$1.15$1.06Book
value per share (BVPS)$17.92$16.80Cash flow per share
(CFPS)$4.27$4.16Free cash flow per share
(FCFPS)($3.49)N/ALIQUIDITY RATIOS (Section
3.2)Industry20102009AverageLiquidity ratios Current
Ratio3.233.684.2 Quick Ratio1.241.802.1ASSET
MANAGEMENT RATIOS (Section
3.3)Industry20102009AverageAsset Management ratios
Inventory Turnover4.886.879 Days Sales Outstanding45.640.34
Christopher Buzzard: To calculate the DSO ratio, a 365-day
accounting year was used.36 Fixed Asset Turnover3.003.283
Total Asset Turnover1.501.701.8DEBT MANAGEMENT
RATIOS (Section 3.4)Industry20102009AverageDebt
Management ratios Debt Ratio53.20%47.62%40.00% Debt-to-
Equity Ratio1.140.910.67 Market Debt Ratio48.06%38.10%N/A
Times Interest Earned3.234.386 EBITDA Coverage Ratio3.03
Brigham: (EBITDA + Lease Payments) / (Interest + Loan
Payments + Lease Payments)
3.538PROFITABILITY RATIOS (Section
3.5)Industry20102009AverageProfitability ratios Profit
Margin3.78%4.13%5.00% Basic Earning
Power14.19%15.65%17.20% Return on
Assets5.67%7.01%9.00% Return on
Equity12.67%14.02%15.00%MARKET VALUE RATIOS
(Section 3.6)Industry20102009AverageMarket Value ratios
3. Price-to Earnings Ratio10.1311.0412.5 Price-to-Cash Flow
Ratio5.396.26
Christopher Buzzard: P/CF ratio is calculated by dividing the
price by the net cash flow per share.
Brigham: (EBITDA + Lease Payments) / (Interest + Loan
Payments + Lease Payments)
Christopher Buzzard: To calculate the DSO ratio, a 365-day
accounting year was used.6.8 Price-to-EBITDA3.003.684.6
Market-to-Book Ratio1.281.551.7TREND ANALYSIS,
COMMON SIZE ANALYSIS, AND PERCENT CHANGE
ANALYSIS (Section 3.7)TREND ANALYSISTrend analysis
allows you to see how a firm's results are changing over time.
For instance, a firm's ROE may be slightly below the
benchmark, but if it has been steadily rising over the past four
years, that should be seen as a good sign.A trend analysis and
graph have been constructed on this data regarding
MicroDrive's ROE over the past 5 years. (MicroDrive and
indusry average data for earlier years has been
provided.)ROEMicroDriveIndustry200614.0%13.2%200716.1%
15.0%200814.8%16.0%200914.0%16.2%201012.7%15.0%Figur
e 3-1 Rate of Return on Common EquityCOMMON SIZE
ANALYSISIn common size income statements, all items for a
year are divided by the sales for that year.Figure 3-2 Common
Size Income StatementsIndustry
CompositeMicroDrive201020102009Net
sales100.0%100.0%100.0% Operating
costs87.6%87.2%87.6%Earnings before interest, taxes, depr. &
amort. (EBITDA)12.4%12.8%12.4% Depreciation and
amortization2.8%3.3%3.2%Earnings before interest and taxes
(EBIT)9.6%9.5%9.2% Less interest 1.3%2.9%2.1%Earnings
before taxes (EBT)8.3%6.5%7.1% Taxes
(40%)3.3%2.6%2.8%Net income before preferred
4. dividends5.0%3.9%4.3% Preferred
dividends0.0%0.1%0.1%Net income available to common
stockholders (profit margin)5.0%3.8%4.1%In common sheets,
all items for a year are divided by the total assets for that
year.Figure 3-3 Common Size Balance SheetsIndustry
CompositeMicroDrive201020102009AssetsCash and
equivalents1.0%0.5%0.9%Short-term
investments2.2%0.0%3.9%Accounts
receivable17.8%18.8%18.8%Inventories19.8%30.8%24.7%
Total current assets40.8%50.0%48.2%Net plant and
equipment59.2%50.0%51.8%Total
assets100.0%100.0%100.0%Liabilities and equityAccounts
payable1.8%3.0%1.8%Notes
payable4.4%5.5%3.6%Accruals3.6%7.0%7.7% Total current
liabilities9.8%15.5%13.1%Long-term bonds30.2%37.7%34.5%
Total liabilities40.0%53.2%47.6%Preferred
stock0.0%2.0%2.4%Total common
equity60.0%44.8%50.0%Total liabilities and
equity100.0%100.0%100.0%PERCENT CHANGE ANALYSISIn
percent change analysis, all items are divided by the that item's
value in the beginning, or base, year.Figure 3-4 Income
Statement Percent Change AnalysisBase year =2009Percent
Change in2010Net sales5.3% Operating costs4.8%Earnings
before interest, taxes, depr. & amort. (EBITDA)8.7%
Depreciation and amortization11.1%Earnings before interest
and taxes (EBIT)7.9% Less interest 46.7%Earnings before
taxes (EBT)(3.5%) Taxes (40%)(3.5%)Net income before
preferred dividends(3.5%) Preferred dividends0.0%Net income
available to common stockholders(3.7%)Balance Sheet Percent
Change Analysis (not in textbook)Base year =2009Percent
Change in2010AssetsCash and equivalents-33.3%Short-term
investments-100.0%Accounts receivable19.0%Inventories48.2%
Total current assets23.5%Net plant and equipment14.9%Total
assets19.0%Liabilities and equityAccounts payable100.0%Notes
payable83.3%Accruals7.7% Total current
liabilities40.9%Long-term bonds30.0% Total
5. liabilities33.0%Preferred stock (400,000 shares)0.0%Common
stock (50,000,000 shares)0.0%Retained earnings7.9%Total
common equity6.7%Total liabilities and equity19.0%DU PONT
ANALYSIS (Section 3.8) ROE =(Profit margin)(TA
turnover)(Equity
Multiplier)MicroDrive201012.67%3.78%1.502.23MicroDrive
200914.02%4.13%1.702.00Industry
Average15.00%5.00%1.801.67
MicroDrive
2006 2007 2008 2009 2010 0.14000000000000001 0.161
0.14800000000000002 0.14023809523809525
0.12665178571428584 Industry
2006 2007 2008 2009 2010 0.13200000000000001 0.15 0.16
0.16200000000000001 0.15
ROE
(%)
Assignment 1: Demand Estimation
Chris Czeiszperger
Dr. Guerman V. Kornilov
Managerial Economics and Globalization
January 26, 2014
6. Imagine that you work for the maker of a leading brand of low-
calorie microwavable food that estimates the following demand
equation for its product using data from 26 supermarkets around
the country for the month of April.
QD = 20,000 - 10P + 1500A + 5PX + 10 I
(5,234) (2.29) (525) (1.75) (1.5)
R2 = 0.85 n = 120 F = 35.25
Your supervisor has asked you to compute the elasticities for
each independent variable, (P, A, PX, and I), in the equation.
Assume the following values for the independent variables:
Q D = Quantity demanded
P (in cents) per case = Price of the product = 8000
PX (in cents) = Price of leading competitor’s product = 9000
I (in dollars) = Per capita income of the standard metropolitan
statistical area (SMSA) where the supermarkets are located =
5000
A (in dollars) = Monthly advertising expenditures = 64
1. Compute the elasticity for each independent variable. Note:
Write down all of your calculations.
When P = 8000, A = 64,PX = 9000, I = 5000, using regression
equation,
QD= 20000 - 10*8000 + 1500*64 + 5*9000 + 10*5000 =
131,000
Price elasticity = (P/Q)*(dQ/dP)
From regression equation, dQ/dP = -10.
So, price elasticity EP= (P/Q) * (-10) = (-10) * (8000 / 131000)
7. = -0.61
Similarly,
EA = 1500 * 64 / 131000 = 0.73
EPX = 5 * 9000 / 131000 = 0.34
EI = 10* 5000 / 131000 = 0.38
2.Determine the implications for each of the computed
elasticities for the business in terms of short-term and long-term
pricing strategies. Provide a rationale in which you cite your
results.
Price elasticity is -0.61 which means a 1% increase in price of
the product causes quantity demanded to drop by 0.61%. So, the
demand of the product is relatively inelastic. Therefore,
increase in price may not have large impact on the customers.
Advertisement elasticity is 0.73, meaning 1% increase in
advertising expenses increases quantity demanded by only
0.73%. So, demand is relatively inelastic to advertising.
Therefore, more advertisement won’t necessarily mean that firm
can raise the price because it still could drive customers away.
Cross-price elasticity is 0.34 which means if price of competitor
product increases by 1%, then quantity demanded of this
product increases by 0.34%. So, product is relatively inelastic
to competitor’s price and the firm shouldn’t worry about the
competitor as their pricing won’t have any major effect on its
own sales.
Income-elasticity is 0.38 which means 1% rise in average
income in the area boosts quantity demanded by 0.38%. So,
product is relatively inelastic in this aspect and so the firm
shouldn’t worry about consumer income considerations in
pricing strategy. Quantity demanded won’t suffer largely from
this aspect even if income increases / decreases.
Therefore, quantity demanded is relatively inelastic to all
factors considered. So, company shouldn’t worry much about
these factors.
3.Recommend whether you believe that this firm should or
8. should not cut its price to increase its market share. Provide
support for your recommendation.
A price slash would increase quantity demanded, as the price
elasticity is negative. But, magnitude of elasticity is a less than
unity. Revenue is maximized when the magnitude of elasticity is
one. Therefore, a price-cut will increase quantity demanded but
will lead to a loss of sales. So, price-cut should be made only if
firm is trying to strengthen its consumer base; from profit
perspective, it should instead raise the price.
4.Assume that all the factors affecting demand in this model
remain the same, but that the price has changed. Further assume
that the price changes are 100, 200, 300, 400, 500, 600 cents.
1.Plot the demand curve for the firm.
Keeping other factors constant, demand equation is
Q = 20000 - 10*8000 + 1500*64 + 5*9000 + 10*5000
Q = 211000 - 10P
P = 21100 - 0.1Q (plotted below)
2.Plot the corresponding supply curve on the same graph using
the supply function Q = 5200 + 45P with the same prices.
Q = 5200 + 45P
P = -5200/45 + Q/45
3.Determine the equilibrium price and quantity.
Solving demand and supply equation simultaneously,
211000 - 10P= 5200 + 45P
55P = 211000 - 5200
P = 3741.82
and Q = 5200 + 45*3741.82 = 173,581
So, equilibrium price is 3742 cents and equilibrium quantity is
173,581 units. The equilibrium price and quantity can also be
found from the graph to be the point where supply and demand
curve intersect.
9. 4.Outline the significant factors that could cause changes in
supply and demand for the product. Determine the primary
manner in which both the short-term and the long-term changes
in market conditions could impact the demand for, and the
supply, of the product.
As the demand equation points out, demand of the low-calorie
food can change due to a change in consumer income, price of
competitor product and price of related goods (microwave
oven). The change can also come as a result of change in
consumer preference (like awareness towards low-calorie food).
Supply of the product can change due to change in number of
suppliers of the product, technological advances in the
production and other factors like change in availability of labor
and raw-material which directly affect production costs.
5.Indicate the crucial factors that could cause rightward shifts
and leftward shifts of the demand and supply curves.
A rightward shift of demand curve could be caused by an
increase in consumer income, a decrease in price of
complementary product like microwave ovens, an increase in
population or increased preference for the product like
awareness towards low-calorie food. A leftward shift of demand
curve can be caused by a drop in consumer income or recession,
increase in price of complementary product like microwave
oven etc.
A rightward shift of supply curve can be caused by
technology advances in food processing, increased availability
of cheap labor and raw material, increased tax-cuts and
government subsidies etc. A leftward shift can be caused due to
a decrease in availability / increase in price of labor and raw
materials, increased taxes etc.
Demand 210000 205000 200000 195000 190000
173581.8 168581.8 163581.79999999999
158581.79999999999 153581.79999999999
10. 148581.79999999999 100 600 1100 1600 2100
3741.82 4241.8200000000024 4741.8200000000024
5241.8200000000024 5741.8200000000024
6241.8200000000024 Supply 210000 205000
200000 195000 190000 173581.8 168581.8
163581.79999999999 158581.79999999999
153581.79999999999 148581.79999999999
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Running head: OPERATIONS DECISION
1
OPERATIONS DECISION
9
Operations Decision
Chris Czeiszperger
Professor Kornilov
Managerial Economics and Globalization
February 14, 2014
There are many options of foods with low-calorie in the market.
With the rise in income people can now use microwaves to cook
instead of traditional cooking methods. The rise of microwaves
11. has led to rise in food items. Having a variety of products
available one can target on healthy choices of microwavable
foods. For a type of food to be considered health it should
contain sources of proteins, 600 milligrams of sodium and 3
grams of fiber for satiety purposes. Manufacturers of these
options include Lean Cuisine and Healthy Choice. Both of these
companies are competitors in frozen food markets. Lean Cuisine
started in the year 1981 under the ownership of Nestle and has
expanded its markets in Canada, US, and Australia and it offers
variety of frozen foods and a leading choice for low-calorie s.
Healthy Choice is another choice for low-calorie foods the
product produced by ConAgra. Healthy Choice are the biggest
opponents of Lean Cuisine (Schlosser).
These two companies have two strategies for pricing which are
penetration pricing and skimming pricing. A penetration pricing
is involved with low initial prices to encourage a large number
of customers to try the product. The companies’ hopes are to
sell large volumes in order to generate high revenues. New
varieties of food stuffs are often introduced at low opening
prices. A company does not utilize a high strategy for such
products. This initial low price of the product is often combined
with samples, advertising, coupons and other special incentives
in order to increase awareness of the product and customers to
try it. Companies start to make profits when more units start to
be sold. The company can also experience profits when there is
expansion of product distribution that lead to increase in
profits.
The pricing strategy which involves setting high initial prices
for food products to get back the investment spend on the
product is called skimming pricing strategy. This market
involves customers who are not price sensitive or those that
adapted with the product long time ago.
For a company to gain enormous profits, then its product must
have been accepted in the market place. The profitability stage
of a company is characterized by higher profits which attracts
more competitors who enter the market very quickly. A
12. company must ensure the availability of its product whenever a
customer needs it otherwise it will lose the customer to its
competitors. The best plan to assess the effectiveness of the
company’s performance include laying down the companies
goals which are to make the maximum profits while incurring
the low costs, also ensuring that the frozen food products are
available to consumer whenever the consumer needs them. Also
for an effective business, a company should determine the
company’s challenges and opportunities so as to make the best
profits. The companies also should clearly identify their target
market and ensure that their products reach the intended
consumers and also be prepared for the competitions that they
may face in the market. Effective companies and marketing
plans are very detailed, anticipating and satisfying the
consumer’s needs.
For a company’s market structure to change there must have
occurred an outlawed activity like the tying of consumers where
a customer is required to buy goods they do not want in order to
acquire the goods they want. This leads to a company losing
customers therefore the strategy of many buyers and many
sellers becomes unbalanced therefore a business opting to
change their market structure. A company can also change its
market structure when there occurs interlocking directorates.
This is where we have same individuals serving on board of
directors of competing companies. This leads to the two
companies producing similar products and therefore changing
the market structure of a company. There may be a change of
market structure when we have price discrimination where some
customers are served with different prices with other customers.
This majorly leads to dissatisfaction of customers and therefore
customer opting for either substitutes or going for the products
from another company. The effect of the company changing
their market structure if so defined and it may lead to a
company losing a very portion of their profits and therefore
incurring big loses. Also it is clear that a change in market
structure can lead to a company losing many of its consumers
13. due to dissatisfaction.
The reaction of the firm’s negative economic profit will depend
on the time horizon. The firm does not have an option of
departing the production industry. In the short run the company
is stuck with its costs and its factors of production. The
company has two options either to stay or close down. If the
company decides to stay open it will make the profit even if it
is a negative profit. If the company shuts down it will lose an
amount equal to its fixed costs because shutting down both
revenue both their revenue and their variable costs disappear
but fixed costs remain. The company’s short run decision to
produce or not decision is based on where it loses a lot of
money. If the negative economic profits of the quantity are less
than the negative economic profits of losing fixed costs the firm
will remain open.
In the long run perfectly competitive companies will not
produce at negative economic profit if they can make more
money elsewhere and if it is easy to get out of the market.
Therefore these companies make zero economic profits in the
long run. When other things are not equal, the firm will move
from one average total cost to another as it expands its capacity.
Eventually, it will reach average total cost curves that exist at
the most efficient scale and then the firm will be pushed to the
breakeven point on the average total cost curve.
A company should discontinue its operation when its sales have
decreased to a level where the company cannot get back. The
decline in sales may be due to consumer preferences where
consumers have preferred low-calorie microwavable food from
other companies and this makes the company go into a loss of
producing large numbers of products which are no consumed.
Technological advances also may lead to decrease in the sales
of the company if the company does no utilize it in the
advertisement of it products. Proper advertisement of the
company’s products ensures the products reach a wide variety
of consumers. Also alternative available in the market that
satisfy the same needs as the company’s product may lead to the
14. company’s making low profits which may lead to closure of the
company. The company may also shut down when the operation
cost exceeds the returns from the sale of foods from the
company.
The management should ensure proper management of the
company and also involve more in advertising as this helps in
capturing more customers and making them aware of the
products. The company should prepare for a tuff completion
from other companies producing the same products in the
market. The rationale for this is to ensure that the company
remains running and serving its customers satisfactorily.
There are two pricing policies that can be used but the most
effective pricing policies is the penetration pricing strategy.
This strategy involves using the initial price of the product to
encourage the customers to try the product. The aim of the
company is to sell large amount of low-calorie microwaveable
food (Rodale, 2008). New products are introduced at initial
prices. These low prices are always accompanied with
advertising, coupons, samples and other special incentives this
helps to increase awareness of the product and get the
consumers ready to try it and use it. Because of its low initial
costs on the product penetration pricing strategy encourages
customers to switch to the new product. This means an increase
in number of customers for the company and therefore increased
returns for the company. The penetration pricing strategy is the
most commonly associate with the marketing objectives of
increasing market share or the sale volumes. Its lower price on
the products when entering the market is a competitive weapon
against other companies that produce the same products of low-
calorie microwavable foods. Penetration strategy catches the
completion off-guard and therefore the competitors do not have
time to prepare. It also encourages word of mouth
recommendation for the product because of the attractive
pricing and makes the company to focus on minimizing unit
costs as the business starts. The low prices act as a barrier for
other potential competitors to enter into a similar strategy and
15. the sales volumes should be high because distribution may be
easier to obtain.
The financial performance of the company is the measure of
how long a company will stay on production. For a company to
be able to meet the short-term financial obligations is a very
important part to use to maintain operation of the company and
for future growth. A large factor determining the short term
financial performance of a company is liquidity which is the
degree to which a market is willing to buy a particular product.
The money market account as a type of asset can be converted
into cash within a day or two if not instantly. A building where
the company sits is very liquid because it can take a long time
before it is sold and make cash out of it. According to the low-
calorie microwave company the profits of the sales from freeze
foods and the liquidity of the buildings of the company portray
the company’s financial performance. The long term financial
performance of low-calorie microwave Food Company is
generating enough income to sustain the company for a long
period of time. When the company is making a long term
financial performance it looks for opportunities of making
maximum profits. The company does not produce negative
economic profits. The evaluation of financial performance
requires managerial decisions where a manager should decide
on the best decision to take in order to maximize the profits.
For a company to improve its profitability and deliver more
value to its stakeholders, it should have a customer focused
growth strategies where areas that generate the largest
proportion of revenue and profits are identified. Customer-
focused strategy is based on the company’s existing customers.
Another customer-focused strategy is to enter business that have
a strong strategic links to the core. Another strategy that a
company should take to gain more profits is to focus in
executing growth strategies this will include how organized the
management is to deliver a high level of value to customers.
Also have a management that is performing this will ensure they
work hard in making the companies grow. This is the plan to
16. implement the above recommendations:
1. The company should work towards minimizing costs. This is
done through identifying the steps you could take to minimize
on expenditure for example negotiation on you supplier’s
prices.
2. The company should be focused on reaching its customers
and on attaining maximum profits.
3. Make sure the company is in continuous improvements and
the profits should have steady improvements.
In conclusion managers should lay down good plans to assess
the best market structure that will lead to development of the
company. A change of market structure can enormously affect
the company’s performance and there the management of the
company should be very cautious on the market structure. There
occur some circumstances when a company may be forced to
shut down. These situations may be either be long term or short
term. A success of a company depends also on the pricing
policy. Good pricing policy leads to the success of a company
through making of maximum profits.
17. References
Doukidis, G. I. (2004). Social and economic transformation in
the digital era. Hershey, PA [u.a.: Idea Group Publ.
Harder, F. (2003). Fashion for profit: A professional's complete
guide to designing, manufacturing, & marketing a successful
line. S.l.: Frances Harder.
Mann, M., & Amazon.com (Firm). (2010). Make millions and
make change!: Secrets to business and personal success. S.l:
MakeMillions.com.
Gitman, L. J., & McDaniel, C. D. (2009). The future of
business: The essentials. Mason, OH: South-Western Cenage
Learning.
Schlosser, E. (2012). Fast food nation: The dark side of the all-
American meal. Boston: Mariner Books/Houghton Mifflin
Harcourt.