Use the following Income Statement and Balance Sheet of firm X to answers Questions (1) & (2)

Income Statement, 2016			Balance Sheet, 2016
Sales	5,000,000		Assets
Costs except Depr.	-3,500,000		Cash and Equivalents	1,096,000
EBITDA	1,500,000		Accounts Receivable	960,000
Depreciation	-10,900		Inventories	90,000
EBIT	1,489,100		Total Current Assets	2,146,000
Interest Expense (net)	-100,500		Property Plant & Equipment	2,190,000
Pretax Income	1,388,600		Total Assets	4,336,000
Income Tax	-486,010		Liabilities &Equity
Net Income	902,590		Accounts Payable	900,000
			Debt	950,000
			Total Liabilities	1,850,000
			Stockholders' Equity	2,486,000
			Total Liabilities and Equity	4,336,000

Sales in 2017 are expected to grow at a rate of 9% with respect to the values of 2016. Assume the company pays out 55% of its net income.

1. Use the percent sales method to forecast the value of next year s stockholder s equity for firm X.

2. Use the percent sales to estimate the firm s net new financing for firm X.

Use the following information on Company Y and perform pro-forma financial modeling using a planned expansion method to answers question (3) and (4). To do this assume that the percentage values with respect to sales of the (i) costs except depreciation, (ii) cash and equivalents, (iii) accounts receivable, (iv) inventories, and (v) accounts payable will stay fixed at the values corresponding for 2016.

Assume also that income tax will remain at 35% of the Pretax Income.

Consider Company Y. This firm sells a product for which in 2016 the total market size was of 1999000 units, of which Company Y owned a share of 30%.

Both, the total market size and Company Y’s market share are expected to grow at a 4% yearly rate for the next five years

The price of the product is $114 in 2016 and is expected to remain at that price for the next years.

Market Analysis	2016	2017	2018	2019
Market Size	1,999,000	2,078,960	2,162,118	2,248,603
Market Share	30%	31%	32%	34%
Production Volume	599,700
Sales Price:	$   114.00
Sales

In 2016, the outstanding debt of Company Y is $900000, for which the company makes yearly interest payments of 11%. The executives of Company Y are considering making a significant capital investment in 2017 of $2900000 to purchase new machinery. The company plans to finance this investment with a 30-year loan that makes yearly interest payments equivalent to 8% of its principal. The principal is paid when the loan matures.

The following table summarizes the debt and interest payment of Company Y.

Debt and Interest Table		2016	2017	2018
Outstanding Debt		900,000	900,000	3,800,000
New Net Borrowing			2,900,000
Interest on Debt

Currently, Company Y makes yearly expenditures on replacement capital investment of $90000. If the company makes the planned expansion it is decided the company will perform yearly expenditures on replacement capital investment of $325000. The current and the planned expenditures on replacement of capital investment will be financed by the company’s cash flow.

The following table indicates for 2016 Company Y’s values of i. opening book value, ii. capital investment, iii. depreciation, and iv. closing book value. The Table also indicates the 2017-2018 forecast values of capital depreciation if the planned expansion were to occur in 2017.

Fixed Assets & Capital Investment	2016	2017	2018
Opening Book Value	1,500,000
Capital Investment	90,000
Depreciation	-127,200	-356,224	-353,726
Closing Book Value	1,462,800

The following table contains Company Y’s income statement.

Income Statement:	2016	2017
Sales	68,365,800
Costs except Depr.	-5,469,264
EBITDA	62,896,536
Depreciation	-127,200
EBIT	62,769,336
Interest Expense (net)	-99,000
Pretax Income	62,670,336
Income Tax	-21,934,618
Net Income	40,735,718

The following table contains Company Y’s balance sheet.

Balance Sheet	2016	2017
Assets
Cash and Equivalents	23,928,030
Accounts Receivable	23,928,030
Inventories	10,254,870
Total Current Assets	58,110,930
Property Plant and Equipment	1,462,800
Total Assets	59,573,730
Liabilities and Equity
Accounts Payable	23,928,030
Total Current Liabilities	23,928,030
Debt	900,000
Total Liabilities	24,828,030
Stockholders' Equity
Starting Stockholders' Equity	8,000,000
Net Income	40,735,718
Dividends	-13,990,018
Stockholders' Equity	34,745,700
Total Liabilities & Equity	59,573,730

3. Before making any adjustments to balance Total Assets with Total Liabilities and Equity, what is Company Y s forecast value of Total Liabilities and Equity for 2017?

4.      How much are the net new financing for Company Y s on 2017?

During the 2^ndquarter of 2016 (June 2016 – August 2016) Ping-Pong Industries (located at 535 Main Street, Brentwood, NY 11717; Sales Tax ID# 44455566677) had total sales of $126,000. Of this amount, $21,000 were non-taxable. All of the sales were made in Suffolk County, and the company does not report gross credit card and debit card sales. This is not the final sales tax return for the company, and the company pays the sales tax amount that is due when filing the form. The company does not use a third-party designee, and prepares the sales tax forms on its own. The forms are signed by Alton Thompson, the CEO of the company (phone number: 631-555-8476, no e-mail address), and are filed on the due date for the form.

Based on the instructions that have been provided for Form ST-100, complete Form ST-100 of Ping-Pong Industries for the 2^ndquarter of the year.

"Freshman 15": Fact or Fantasy? BOSTON Along with all of the typical "back-to-school" hype about lunch boxes and school buses, each September is typically greeted with media reports and advice about the "freshman 15," which is the popular name given to the phenomenon of first-year college students gaining 15 pounds during their freshman year. But does this 15 pound weight gain actually occur, or is it simply a myth? Carole Nhu'y Hodge, Linda Jackson, and Linda Sullivan are Michigan State University researchers who conducted their own investigation. They studied 61 Michigan State female students who took an introductory psychology course. The volunteers, who were given extra credit for participation in the experiment, were weighed at the beginning of their freshman year and at a point in time six month later. Among their findings reported in Psychology of Women Quarterly : "Body weight at the beginning of the first college year (Time 1) was compared with weight approximately 6 months later (Time 2). Average weight at Time 2, 131.45 lb (59.62 kg), was no different from average weight at Time 1, 130.57 lb (59.23 kg)." They also state that "Our findings suggest it (the 15-lb weight gain)is fantasy, although additional research is needed before drawing firm conclusions."

The Assignment:

Answer the following:

1. What do the researchers infer when they say that there is "no difference" between the mean weight at Time 1 (130.57 lb) and the mean weight at Time 2 (131.45lb), when there is an apparent difference of 0.88-lb?
2. What are the limitations of this particular study? That is, if the sample data are used to make inferences about a population, identify the specific population in question.
3. Identify any aspects of the experiment that could potentially threaten the validity of the results.
4. Identify a possible null hypothesis and alternative hypothesis for this experiment.
5. Your submission is to be a well-written grammatically correct response.

consider the potential v(y,z) =sinky(Ce^kz + De^-kz)

apply the two boundary conditions

a- V(y,z=b)=0

b- V(y=a,z)=0

The potential difference across a charged capacitor is 22 V. The capacitor discharges through a fixed resistor. After a time equal to the time constant, the potential difference has reduced to V. The magnitude of V is:

Alternative Inventory Methods

Frate Company was formed on December 1, 2015, and uses the periodic inventory system. The following information is available from Frate's inventory records for Product Ply:

	Units			Unit Cost
January 1, 2016 (beginning inventory)	1,500			$9.00
Purchases:
January 6, 2016	2,200			10.00
January 25, 2016	1,900			10.50
February 17, 2016	1,300			11.00
March 27, 2016	1,600			11.50

A physical inventory on March 31, 2016 shows 3,000 units on hand.

Required:

For each method, enter your answers in chronological order.

Prepare schedules to compute the ending inventory at March 31, 2016, under each of the following inventory methods:
(For the weighted average method, round the average cost per unit to two decimal places.)
1. FIFO

FRATE COMPANY
Computation of Inventory for Product Ply Under FIFO Inventory Method
March 31, 2016
	Units	Unit cost	Total cost
		$	$
March 31, 2016 inventory			$

2. LIFO

FRATE COMPANY
Computation of Inventory for Product Ply Under LIFO Inventory Method
March 31, 2016
	Units	Unit cost	Total cost
		$	$
March 31, 2016 inventory			$

3. Weighted average

FRATE COMPANY
Computation of Inventory for Product Ply Under Weighted Average Inventory Method
March 31, 2016
	Units	Unit cost	Total cost
Beginning inventory		$	$
January 6, 2016
January 25, 2016
February 17, 2016
March 27, 2016
Total			$
Weighted average cost		$
March 31, 2016 inventory		$	$

Alternative Inventory Methods

Frate Company was formed on December 1, 2015, and uses the periodic inventory system. The following information is available from Frate's inventory records for Product Ply:

	Units			Unit Cost
January 1, 2016 (beginning inventory)	2,900			$5.00
Purchases:
January 6, 2016	3,600			6.00
January 25, 2016	3,300			6.50
February 17, 2016	2,700			7.00
March 27, 2016	3,000			7.50

A physical inventory on March 31, 2016 shows 5,800 units on hand.

Required:

For each method, enter your answers in chronological order.

Prepare schedules to compute the ending inventory at March 31, 2016, under each of the following inventory methods:
(For the weighted average method, round the average cost per unit to two decimal places.)
1. FIFO

FRATE COMPANY
Computation of Inventory for Product Ply Under FIFO Inventory Method
March 31, 2016
	Units	Unit cost	Total cost
		$	$
March 31, 2016 inventory			$

2. LIFO

FRATE COMPANY
Computation of Inventory for Product Ply Under LIFO Inventory Method
March 31, 2016
	Units	Unit cost	Total cost
		$	$
March 31, 2016 inventory			$

3. Weighted average

FRATE COMPANY
Computation of Inventory for Product Ply Under Weighted Average Inventory Method
March 31, 2016
	Units	Unit cost	Total cost
Beginning inventory		$	$
January 6, 2016
January 25, 2016
February 17, 2016
March 27, 2016
Total			$
Weighted average cost		$
March 31, 2016 inventory		$	$

Leave comments on code describing what does what

Objectives:

1. To introduce pointer variables and their relationship with arrays

2. To introduce the dereferencing operator

3. To introduce the concept of dynamic memory allocation

A distinction must always be made between a memory location’s address and the data stored at that location. In this lab, we will look at addresses of variables and at special variables, called pointers, which hold these addresses.

The address of a variable is given by preceding the variable name with the C++ address operator (&). The & operator in front of the variable sum indicates that the address itself, and not the data stored in that location.

cout << &sum; // This outputs the address of the variable sum

To define a variable to be a pointer, we precede it with an asterisk (*). The asterisk in front of the variable indicates that ptr holds the address of a memory location.

int *ptr;

The int indicates that the memory location that ptr points to holds integer values. ptr is NOT an integer data type, but rather a pointer that holds the address of a location where an integer value is stored.

Explain the difference between the following two statements:

  

int sum; // ____________________________

int *sumPtr; // ___________________________

Using the symbols * and &:

1. The & symbol is basically used on two occasions.

• reference variable : The memory address of the parameter is sent to the function instead of the value at that address.

• address of a variable

void swap (int &first, int &second) // The & indicates that the parameters

{ // first and second are being passed by reference.

int temp;

temp = first; // Since first is a reference variable,

// the compiler retrieves the value

// stored there and places it in temp.

first = second // New values are written directly into

second = temp; // the memory locations of first and second.

}

   

2) The * symbol is used on

• define pointer variables:

• the contents of the memory location

int *ptr;

Experiment 1

Step 1:

Complete this program by filling in the code (places in bold). Note: use only pointer variables when instructed to by the comments in bold. This program is to test your knowledge of pointer variables and the & and * symbols.

Step 2:

Run the program with the following data: 10 15. Record the output here .

// This program demonstrates the use of pointer variables

// It finds the area of a rectangle given length and width

// It prints the length and width in ascending order

#include <iostream>

using namespace std;

int main()

{

int length; // holds length

int width; // holds width

int area; // holds area

int *lengthPtr; // int pointer which will be set to point to length

int *widthPtr; // int pointer which will be set to point to width

  cout << "Please input the length of the rectangle" << endl;

cin >> length;

cout << "Please input the width of the rectangle" << endl;

cin >> width;

// Fill in code to make lengthPtr point to length (hold its address)

// Fill in code to make widthPtr point to width (hold its address)

area = // Fill in code to find the area by using only the pointer variables

cout << "The area is " << area << endl;

if (// Fill in the condition length > width by using only the pointer variables)

cout << "The length is greater than the width" << endl;

else if (// Fill in the condition of width > length by using only the pointer

// variables)

cout << "The width is greater than the length" << endl;

else

cout << "The width and length are the same" << endl;

return 0;

}

Experiment 2: Dynamic Memory

Step 1:

Complete the program by filling in the code. (Areas in bold) This problem requires that you study very carefully. The code has already written to prepare you to complete the program.

Step 2:

In inputting and outputting the name, you were asked NOT to use a bracketed subscript. Why is a bracketed subscript unnecessary? Would using name [pos] work for inputting the name? Why or why not? Would using name [pos] work for outputting the name? Why or why not?

Try them both and see.

// This program demonstrates the use of dynamic variables

#include <iostream>

using namespace std;

const int MAXNAME = 10;

int main()

{

int pos;

char * name;

int * one;

int * two;

int * three;

int result;

// Fill in code to allocate the integer variable one here

// Fill in code to allocate the integer variable two here

// Fill in code to allocate the integer variable three here

// Fill in code to allocate the character array pointed to by name

cout << "Enter your last name with exactly 10 characters." << endl;

cout << "If your name has < 10 characters, repeat last letter. " << endl

<< "Blanks at the end do not count." << endl;

for (pos = 0; pos < MAXNAME; pos++)

cin >> // Fill in code to read a character into the name array // WITHOUT USING a bracketed subscript

cout << "Hi ";

for (pos = 0; pos < MAXNAME; pos++)

cout << // Fill in code to a print a character from the name array // WITHOUT USING a bracketed subscript

cout << endl << "Enter three integer numbers separated by blanks" << endl;

// Fill in code to input three numbers and store them in the

// dynamic variables pointed to by pointers one, two, and three.

// You are working only with pointer variables

//echo print

cout << "The three numbers are " << endl;

// Fill in code to output those numbers

result = // Fill in code to calculate the sum of the three numbers

cout << "The sum of the three values is " << result << endl;

// Fill in code to deallocate one, two, three and name

return 0;

}

Sample Run:

Enter your last name with exactly 10 characters.

If your name < 10 characters, repeat last letter. Blanks do not count.

DeFinooooo

Hi DeFinooooo

Enter three integer numbers separated by blanks

5 6 7

The three numbers are 5 6 7

The sum of the three values is 18

Experiment 3: Dynamic Arrays

Question: Fill in the code as indicated by the comments in bold.

// This program demonstrates the use of dynamic arrays

#include <iostream>

#include <iomanip>

using namespace std;

int main()

{

float *monthSales; // a pointer used to point to an array

// holding monthly sales

float total = 0; // total of all sales

float average; // average of monthly sales

int numOfSales; // number of sales to be processed

int count; // loop counter

cout << fixed << showpoint << setprecision(2);

cout << "How many monthly sales will be processed? ";

cin >> numOfSales;

// Fill in the code to allocate memory for the array pointed to by

// monthSales.

if ( // Fill in the condition to determine if memory has been

// allocated (or eliminate this if construct if your instructor

// tells you it is not needed for your compiler)

)

{

cout << "Error allocating memory!\n";

return 1;

}

cout << "Enter the sales below\n";

for (count = 0; count < numOfSales; count++)

{

cout << "Sales for Month number "

<< // Fill in code to show the number of the month

<< ":";

// Fill in code to bring sales into an element of the array

}

for (count = 0; count < numOfSales; count++)

{

total = total + monthSales[count];

}

average = // Fill in code to find the average

cout << "Average Monthly sale is $" << average << endl;

// Fill in the code to deallocate memory assigned to the array.

return 0;

}

Sample Run:

How many monthly sales will be processed 3

Enter the sales below

Sales for Month number 1: 401.25

Sales for Month number 2: 352.89

Sales for Month number 3: 375.05

Average Monthly sale is $376.40

A binomial probability experiment is conducted with the given parameters. Compute the probability of x successes in the n independent trials of the experiment.

n=10, p=0.45​, x=8

P(8)=