Ross Enterprises has a contract with Big Steel Company Limited in respect of Information Technology (IT) Services. The contract was signed on January 1^st 2020 and will be effected on the 1^st April 2020.

In mid-February 2020 Big Steel’s sales plummeted due to the Covid 19 pandemic. In addition, an already high long term debt, and operating cost, as well as Big Steel’s current negative cash flows situation placed the company in serious financial peril. Indeed if they cannot find a resolution soon to deal with their cash flow problems and debt, they will have to close operations permanently and send all employees home.

Upon hearing this pronouncement, the Trade Union representing workers at Big Steel advised management that they will take strike action. This further affected the operations of Big Steel and resulted in a loss of production, sales and the much-needed cash flows, which is critical to pay off their debt and meet current fixed operating cost. On 3^rd March 2016, Big Steel files for bankruptcy and sent all employees home.

On the 4^th March, Big Steel wrote Ross Enterprises advising of their circumstances and the virtual impossibility of implementing the sign contact for IT Services, which is scheduled to commence on 1^st April 2020.

Ross Enterprises is adamant that they have binding arrangement and wanted to proceed as per signed contract. However Big Steel has advised Ross that certain events, covid 19, global recession and a subsequent strike has culminated for which the company has little or no control of. Thus, it was impossible to implement the contract on the agreed start date due to these circumstances.

Advise Ross Enterprises on this matter using the IRAC method

4. LO.1–LO.3 & LO.5 (MS; DOL; PV graph) You are considering buying one of two local firms (Levesque’s Bisques, and McMahon’s Clams.). Levesque uses a substantial amount of direct labor in its manufacturing operations and its salespeople work on commission.

McMahon uses the latest automated technology in manufacturing; its salespeople are salaried. The following financial information is available for the two companies:

After examining cost data, you find that the fixed cost for Levesque is $60,000; the fixed cost for McMahon is $300,000. The tax rate for both companies is 40 percent.

a. Recast the income statements into a variable costing format.

b. What are the break-even sales for each firm for each year?

c. Assume that you could acquire either firm for $1,200,000, and you want an after-tax return of 12 percent on your investment. Determine what sales level for each firm would allow you to reach your goal.

d. What is the margin of safety for each firm for each year? What is the degree of operating leverage?

e. Assume that product demand for 2021 is expected to rise by 15 percent from the 2020 level. What will be the expected net income for each firm?

f. Assume that product demand for 2021 is expected to fall by 20 percent from the 2020 level. What will be the expected net income for each firm?

Ross Enterprises has a contract with Big Steel Company Limited in respect of Information Technology (IT) Services. The contract was signed on January 1st 2020 and will be effected on the 1st April 2020. In mid-February 2020 Big Steel’s sales plummeted due to the Covid 19 pandemic. In addition, an already high long term debt, and operating cost, as well as Big Steel’s current negative cash flows situation placed the company in serious financial peril. Indeed if they cannot find a resolution soon to deal with their cash flow problems and debt, they will have to close operations permanently and send all employees home. Upon hearing this pronouncement, the Trade Union representing workers at Big Steel advised management that they will take strike action. This further affected the operations of Big Steel and resulted in a loss of production, sales and the much-needed cash flows, which is critical to pay off their debt and meet current fixed operating cost. On 3rd March 2016, Big Steel files for bankruptcy and sent all employees home. On the 4th March, Big Steel wrote Ross Enterprises advising of their circumstances and the virtual impossibility of implementing the sign contact for IT Services, which is scheduled to commence on 1st April 2020. Ross Enterprises is adamant that they have binding arrangement and wanted to proceed as per signed contract. However Big Steel has advised Ross that certain events, covid 19, global recession and a subsequent strike has culminated for which the company has little or no control of. Thus, it was impossible to implement the contract on the agreed start date due to these circumstances.

Advise Ross Enterprises on this matter.

Python

1.Explain what happens when a program receives a non-numeric string when a number is expected as input, and explain how the try-except statement can be of use in this situation.

2.What is meant by the state of an object, and how does the programmer access and manipulate it?

3.Explain the differences between instance variables and temporary variables. Focus on their visibility in a class definition, and on their roles in managing data for an object of that class.

4.Explain the purpose of the variable self in a Python class definition.

1.Trey has two dependents, his two daughters, ages 14 and 17, at year-end. Trey files a joint return with his wife. What amount of child credit will Trey be able to claim for his daughters if his AGI is $422,000.

2.Trey has two dependents, his two daughters, ages 10 and 12, at year-end. Trey files a joint return with his wife. What amount of child credit will Trey be able to claim for his daughters if his AGI is $423,000.

3.Julie paid a day care center to watch her two-year old son this year while she worked as a computer programmer for a local start-up company. Julie paid $2,300 to the day care center and her AGI is $50,000 (all salary). What amount of child and dependent care credit can Julie claim?

4.Julie paid a day care center to watch her two-year old son this year while she worked as a computer programmer for a local start-up company. Julie paid $3,600 to the day care center and her AGI is $25,000 (all salary). What amount of child and dependent care credit can Julie claim?

I. A recycled paper distributor places empty containers in various locations; these are gradually filled with the old newspapers and similar materials brought in by various individuals. The containers are collected (and replaced with other empty ones) following different routes. In one of such journeys, the collection is made every two weeks. This plan is advisable if the average amount of recycled paper in each two-week period is greater than 1600 cubic feet. Different records for 18 two-week periods show the following volumes (in cubic feet) for a particular location: 1660 1820 1590 1440 1730 1680 1750 1720 1900 1570 1700 1900 1800 1770 2010 1580 1620 1690

Suppose these figures represent the results of a random sample. Do they support the alternative hypothesis, using α = 0.10? Write down all parts of the hypothesis testing procedure.

The legitimacy of the Chinese government and its economic growth

Based on international standard both China and Singapore are considered as in authoritarian regime, simply saying individual freedoms are subordinate to the state, and there is no constitutional accountability. However, both of them achieved the economic success world-widely speaking. Singapore economy is one of the most stable in the world, with no foreign debt, high government revenue and a consistently positive surplus. China on the other hand, had become second largest economy in the world and was enjoying a very high growth rate of economy, but steadily growth of economy up until 2010 when it started slowed down after.

Question:

A) Why would a slowing growth economy be considered as a threat to the legitimacy of the Chinese Communist Party? (200-300 words)

B) Why did Chinese Communist Party look to Singapore for inspiration of ruling and developing economy? (200-300 words)

Summarize the overall trends and outcomes of 2000 - 2010 in the US by integrating economic models, and historical analysis. Refer to GDP, unemployment, interest rate, fiscal policy, monetary policy and foreign trade.

Please relate answer in summary form and only for the 2000 - 2010 US time period.