The City of Pfeiffer starts the year of 2017 with the general fund and an enterprise fund. The general fund has two activities: education and parks/recreation. For convenience, assume that the general fund holds $144,000 cash and a new school building costing $1,180,000. The city utilizes straight-line depreciation. The building has a 20-year life and no salvage value. The enterprise fund has $65,000 cash and a new $360,000 civic auditorium with a 30-year life and no salvage value. The enterprise fund monitors just one activity, the rental of the civic auditorium for entertainment and other cultural affairs.

The following transactions for the city take place during 2017. Assume that the city’s fiscal year ends on December 31.

Decides to build a municipal park and transfers $72,000 into a capital projects fund and immediately expends $20,600 for a piece of land. The creation of this fund and this transfer were made by the highest level of government authority.

Borrows $113,400 cash on a long-term bond for use in creating the new municipal park.

Assesses property taxes on the first day of the year. The assessment, which is immediately enforceable, totals $618,600. Of this amount, $525,800 will be collected during 2017 and another $51,600 is expected in the first month of 2018. The remainder is expected about halfway through 2018.

Constructs a building in the park in (b) for $40,000 cash so that local citizens can play basketball and other sports. It is put into service on July 1 and should last 10 years with no salvage value.

Builds a sidewalk around the new park for $10,000 cash and puts it into service on July 1. It should last for 10 years, but the city plans to keep it up to a predetermined quality level so that it will last almost indefinitely.

Opens the park and charges an entrance fee of only a token amount so that it records the park, therefore, in the general fund. Collections during this first year total $4,000.

Buys a new parking deck for $220,000, paying $22,000 cash and signing a long-term note for the rest. The parking deck, which is to go into operation on July 1, is across the street from the civic auditorium and is considered part of that activity. It has a 20-year life and no salvage value.

Receives a $110,000 cash grant for the city school system that must be spent for school lunches for the poor. Appropriate spending of these funds is viewed as an eligibility requirement of this grant. During the current year, $40,700 of the amount received was properly spent.

Charges students in the school system a total fee of $6,600 for books and the like. Of this amount, 90 percent is collected during 2017 with the remainder expected to be collected in the first few weeks of 2018.

Buys school supplies for $23,000 cash and uses $17,800 of them. The general fund uses the purchases method.

Receives a painting by a local artist to be displayed in the local school. It qualifies as a work of art, and officials have chosen not to capitalize it. The painting has a value of $83,700. It is viewed as inexhaustible.

Transfers $20,600 cash from the general fund to the enterprise fund as a capital contribution.

Orders a school bus for $102,000.

Receives the school bus and pays an actual cost of $105,000. The bus is put into operation on October 1 and should last for five years with no salvage value.

Pays salaries of $247,000 to school teachers. In addition, owes and will pay $30,800 during the first two weeks of 2018. Vacations worth $23,600 have also been earned but will not be taken until July 2018.

Pays salaries of $43,000 to city auditorium workers. In addition, owes and will pay $3,500 in the first two weeks of 2018. Vacations worth $5,800 have also been earned but will not be taken until July 2018.

Charges customers $150,800 for the rental of the civic auditorium. Of this balance, collected $127,600 in cash and will collect the remainder in April 2018.

Pays $10,400 maintenance charges for the building and sidewalk in (d) and (e).

Pays $16,200 on the bond in (b) on the last day of 2017: $5,800 principal and $10,400 interest.

Accrues interest of $15,000 on the note in (g) as of the end of 2017, an amount that it will pay in June 2018.

Assumes that a museum that operates within the city is a component unit that will be discretely presented. The museum reports to city officials that it had $48,500 of direct expenses this past year and $57,700 in revenues from admission charges. The only assets that it had at year-end were cash of $27,700, building (net of depreciation) of $346,300, and a long-term liability of $242,400.

Prepare the 2017 government-wide financial statements for this city. Assume the use of the modified approach.

Prepare a statement of net position. (Amounts to be deducted should be indicatedby a minus sign.)

1. An oil tanker belonging to Oil Finders, Inc. runs aground and causes a massive oil spill that damages several miles of the Texas coastline. As a result, several public beaches are rendered unusable to the public. Riker and Picard are avid surfers who like to hit the waves as often as they can. Because of the oil spill, they will not be able to surf for at least six months. They file suit against Oil Finders, Inc. for nuisance. Will the court hear their suit? Defend your answer.

2. An oil tanker belonging to Oil Finders, Inc. runs aground and causes a massive oil spill that damages several miles of the Texas coastline. As a result, several public beaches are rendered unusable to the public. Riker and Picard make their living harvesting clams and oysters at the various beaches in the area and their business has been destroyed as a result of the oil spill. They file suit against Oil Finders, Inc. for nuisance. Will the court hear their suit? Defend your answer.

3.John and Kelsey live in a house in Missouri that they purchased for $250,000. The town has never had a garbage dump and the city government has spent millions of dollars over the years sending the town's trash to a dump located in a different part of the state. In order to save money, the town contracts with Mr. Barr, the president of a waste management company, to build and maintain a landfill at the edge of the town. Within six months, the landfill is operational. Eventually, as more and more of the town's trash gets dumped into the landfill, the residents of the town are subjected to the odor that the landfill gives off. The odor is not constant but, on windy days, it is noticeable. As a result, the house that John and Kelsey bought for $250,000 is reduced in value to $240,000. If John sues the town for nuisance, which of the following is most likely to occur?

Defend your answer/ Win, because his house's value has been reduced.

Win, because John moved to the neighborhood before the landfill opened.

Lose, because the odor is not constant. Lose, because benefits of the landfill outweigh the damage done to John.

My sons (“Boy 1” and “Boy 2”) are negotiating over how to divide a pile of 20 chocolates. Boy 1 will engage Boy 2 in up to three rounds of negotiations. The order of events is:

FIRST ROUND: Boy 1 makes Boy 2 an initial offer. Boy 2 accepts or rejects. If he accepts, the game ends and the two boys get their chocolates. If Boy 2 rejects, I punish them for not working together by eating 5 chocolates myself. The game then continues with 15 chocolates to be divided.

SECOND ROUND: Boy 2 makes an offer. Boy 1 accepts or rejects. If he accepts, the game ends and the two boys get their chocolates. If Boy 1 rejects, I eat 5 chocolates myself and the game continues with 10 chocolates to be divided.

THIRD ROUND: Boy 1 makes a final offer. Boy 2 accepts or rejects. If he accepts, the two boys get their chocolates. If Boy 2 rejects, the game ends and I eat all the remaining chocolates. Note that I am expecting you to make an assumption of spiteful players, all else equal. Said another way, I assume that “reject” will break the indifference of getting zero either way...

(a) (5) If we reach the third round of the game, what would be Boy 1’s offer?

(b) (5) Given that my sons know (a) in round 2, what would be Boy 2’s 2nd Round offer?

(c) (5) Given that my sons know (b) in round 1, what would be Boy 1’s 1st Round offer?

(d) (10) What is Boy 1’s first-round strategy? What is Boy 2’s first-round strategy? What is the equilibrium outcome of the game?

2. (25) My sons (“Boy 1” and “Boy 2”) are negotiating over how to divide a pile of 20 chocolates. Boy 1 will engage Boy 2 in up to three rounds of negotiations. The order of events is:

FIRST ROUND: Boy 1 makes Boy 2 an initial offer. Boy 2 accepts or rejects. If he accepts, the game ends and the two boys get their chocolates. If Boy 2 rejects, I punish them for not working together by eating 5 chocolates myself. The game then continues with 15 chocolates to be divided.

SECOND ROUND: Boy 2 makes an offer. Boy 1 accepts or rejects. If he accepts, the game ends and the two boys get their chocolates. If Boy 1 rejects, I eat 5 chocolates myself and the game continues with 10 chocolates to be divided.

THIRD ROUND: Boy 1 makes a final offer. Boy 2 accepts or rejects. If he accepts, the two boys get their chocolates. If Boy 2 rejects, the game ends and I eat all the remaining chocolates. Note that I am expecting you to make an assumption of spiteful players, all else equal. Said another way, I assume that “reject” will break the indifference of getting zero either way...

(a) (5) If we reach the third round of the game, what would be Boy 1’s offer?

(b) (5) Given that my sons know (a) in round 2, what would be Boy 2’s 2nd Round offer?

(c) (5) Given that my sons know (b) in round 1, what would be Boy 1’s 1st Round offer?

(d) (10) What is Boy 1’s first-round strategy? What is Boy 2’s first-round strategy? What is the equilibrium outcome of the game?

7. You are a small farmer in a poor Latin American country. You are trying to decide whether to continue to cultivate a traditional strain of wheat or switch to a new high-yield variety. If you plant the traditional strain, the yield of your wheat field (X) is approximately normally distributed with mean 70 bushels and standard deviation 6 bushels. If you plant the high-yield variety, the yield of your wheat field (Y) is approximately normally distributed with mean 80 bushels and standard deviation 12 bushels. Your family requires 65 bushels of wheat. Let’s assess the relative riskiness of the traditional strain and the high-yield variety.

a. If you grow the traditional variety of wheat, the probability that the yield will be less than 65 bushels is ____.  FOUR DECIMALS.

b. If you grow the high-yield variety of wheat, the probability that the yield will be less than 65 bushels is ______ .  FOUR DECIMALS.

In addition to wheat, you also grow bananas. Your banana yield (W) is approximately normally distributed with mean 100 bushels and standard deviation 4 bushels. If you grow the traditional variety of wheat, your wheat yield and banana yield have a correlation of 0.5. However, if you grow the high-yield variety, your wheat yield and banana yield have a correlation of – 0.5 (a negative correlation). You sell all bananas (your family does not need any bananas), plus any wheat in excess of the 65 bushels for your family. The market price of wheat is $2 per bushel and the market price of bananas is $4 per bushel (in other words, you get $2 per bushel for the wheat and $4 per bushel for the bananas you sell). You need to earn $400 to pay the landlord rent on your farm. Let’s compare the probabilities that you’ll earn at least enough income to pay your rent.

c. The covariance between X and W is ________ . The covariance between Y and W is _______ .  INTEGERS (NO DECIMALS).

d. Use R to represent income from selling wheat and bananas. R as a function of X and W is R=  . R as a function of Y and W is R= ______ .  EQUATIONS, NO SPACES.

e. If you grow the traditional variety of wheat, your expected income (R) is_________ and the variance of income is _____________.  INTEGERS (NO DECIMALS).

f. If you grow the high-yield variety of wheat, your expected income (R) is_________ and the variance of income is ___________ .  INTEGERS (NO DECIMALS).

g. If you grow the traditional variety of wheat, the probability that your income will be at least $400 is __________.  FOUR DECIMALS.

h. If you grow the high-yield variety of wheat, the probability that your income will be at least $400 is ___________ .  FOUR DECIMALS.

IN C++

Note: While there are many ways to do conversions to pig latin, I will require that you follow the procedures below, all of which will use the following structure:

struct Word {
 string english;
 string piglatin;
};

Part 1. Write a function that takes in an English sentence as one string. This function should first calculate how many “words” are in the sentence (words being substrings separated by whitespace). It should then allocate a dynamic array of size equal to the number of words. The array contains Word structures (i.e. array of type Word). The function would then store each word of that sentence to the english field of the corresponding structure. The function should then return this array to the calling function using the return statement, along with the array size using a reference parameter.

This function should also remove all capitalization and special characters other than letters. Implement the function with the following prototype

Word * splitSentence(const string words, int &size);

Part 2. Write a function that takes in an array of Word structures and the size of the array and converts each english field to the corresponding piglatin field.

void convertToPigLatin(Word [] wordArr, int size);

To do this conversion, if a word starts with a consonant, the piglatin conversion of the word involves moving the first letter of the word to the end of the string and then adding “ay” to the end.

pig -> igpay

cat -> atcay

dog -> ogday

If the word starts with a vowel, simply add “way” to the end of the word

apple -> appleway

are -> areway

Part 3. Write a function that takes in an array of Word structures and outputs the pig latin part of it to the screen, with each word separated by a space.

void displayPigLatin(const Word [] wordArr, int size);

Example:

Please enter a string to convert to PigLatin:
Casino is nothing but a Goodfellas knockoff
Output:
asinocay isway othingnay utbay away oodfellasgay nockoffkay 

Error conditions: Your program should get rid of all punctuation and special characters other than letters. Your program should be able to deal with there being two or more spaces between words.

Note: Make sure to follow proper programming style, as per the style supplement.

Reflective Question # 1:
Venezuela is a Latin American country that is rich in oil preserves. This petroleum sector is
mainly owned by the government, in a sense that it controls and prices it. The petroleum sector
constitutes around 85% of the exports in the country. In Venezuela, there are very few private
sectors.
Germany is one of the top 5 richest countries in the world. It provides its citizens varieties in
consumer goods and business services. But the government imposes regulations even in those
areas to protect its citizens. Thus, the decision about what to produce is distributed among
private and public sectors.
1- What type of economic systems do Venezuela and Germany apply? Explain.
2- For a certain country to adopt a market economic system, what are the decisions they need to
take? Illustrate by providing an example.

1). If a couple has two children, what is the probability that they are both girls assuming that the older one is a girl?

2). Suppose that we have two dice, the first one being a regular die, and the second weighted so that half the time it rolls a 1, and half the time it rolls a 2 (it never rolls anything else). If we choose one of these dice at random, and roll a 1, what’s the probability that it is the regular die?