In 2018, Usher Sports Shop had cash flows from investing activities of $420,000 and cash flows from financing activities of −$464,000. The balance in the firm’s cash account was $627,000 at the beginning of 2018 and $604,000 at the end of the year.

Calculate Usher Sports Shop’s cash flow from operations for 2018. (Amounts to be deducted should be indicated by a minus sign.)

The following data was collected from 1 bag of Hershey Kisses®. Each Kiss® was weighed (in grams) and recorded in the table below. Hershey claims that there is 368 grams of chocolate in one bag.

To help you answer the questions below use your scientific calculator. Your scientific calculator is capable of doing calculations on entire data sets by first entering the data and then pressing combinations of keys to find the average and standard deviation etc... You should check with your calculator manual to see how this special data handling feature works. Let the instructor know if you have any questions. You will need to learn how to do this for testing purposes. Note: Instructions for several brands of calculators in included in the folder Course Overview/Excel & Calculator Instructions.

1. What is the Mean and Median? (you may want to use your calculator!)

2. In general, each Kiss® is approximately how many grams? Explain what measure you used and why.

3. What is the Range? Are you surprised at this? Why or why not?

4. What could be some reasons for variation in the weights of the Kisses®? NOTE: Take time answering this one. There are lots of thingsto consider here and I'll be looking for a well thought out answer with several given reasons contributing to the variation. Of course, the wrappers and tags could vary but what about the drops of chocolate themselves? Why aren't they all the same?

5. Would you say that there are any two Kisses that could have exactly the same weight? (I mean exactly the same weight!)

6. How many Kisses® were there in the bag?

7. Based on Hersheys® claim for 368 total net grams of chocolate in the bag, approximately how many Kisses® too many or too few are there? Give some possible explanations for this difference.

8. EXCEL: Click on and print out one of the following: Excel Descriptive Statistics 2016/2013 to see how to enter the Kiss data into a worksheet and obtain a list of descriptive statistics and a histogram with no more than 12 classes. Also, make sure to sort your data using the Sort command under Data on the menu bar. Submit your Excel file to the Lab1 Part 1 Dropbox.

9. Standard Deviation & Empirical Rule: Variation is a big factor in the analysis of most any data set and it will be very important to have a way of measuring it. Standard Deviation is one such measure that you will study and learn to calculate in an upcoming section. For now, find the Standard Deviation number on your Descriptive Statistics read-out from Excel. There is a rule for "mound-shaped" distributions that can help you have some feeling for what this standard deviation number is telling you. It's called the Empirical Rule and is stated below:
For any data set having a bell-shaped (or mound-shaped) distribution the following are true:
- Approximately 68% of the data values will be within one standard deviation of the mean.
- Approximately 95% of the data values will be within two standard deviation of the mean.
- Almost all of the data values will be within three standard deviation of the mean.
Use the standard deviation value given in Excel and the Empirical Rule (stated above) to find answers to the following:
a) Find the percentage of all the Kisses in the bag that fell within 1 standard deviation of the mean? ... within 2?, … within 3?
(Show how you calculated these percentages!)
b) How close is the Empirical Rule in predicting the percentages that you calculated above?
c) If your calculated percentages did not line up with the percentages claimed by the Empirical Rule, speculate on some possible reasons for this.

10. How might standard deviation and the shape of the distribution indicate how consistent Hershey® is in the manufacturing of their Kisses®?

Protrade Corporation acquired 80 percent of the outstanding voting stock of Seacraft Company on January 1, 2017, for $488,000 in cash and other consideration. At the acquisition date, Protrade assessed Seacraft's identifiable assets and liabilities at a collective net fair value of $735,000 and the fair value of the 20 percent noncontrolling interest was $122,000. No excess fair value over book value amortization accompanied the acquisition.

The following selected account balances are from the individual financial records of these two companies as of December 31, 2018:

Each of the following problems is an independent situation:

• Assume that Protrade sells Seacraft inventory at a markup equal to 40 percent of cost. Intra-entity transfers were $111,000 in 2017 and $131,000 in 2018. Of this inventory, Seacraft retained and then sold $49,000 of the 2017 transfers in 2018 and held $63,000 of the 2018 transfers until 2019.
  Determine balances for the following items that would appear on consolidated financial statements for 2018:
• Assume that Seacraft sells inventory to Protrade at a markup equal to 40 percent of cost. Intra-entity transfers were $71,000 in 2017 and $101,000 in 2018. Of this inventory, $42,000 of the 2017 transfers were retained and then sold by Protrade in 2018, whereas $56,000 of the 2018 transfers were held until 2019.
  Determine balances for the following items that would appear on consolidated financial statements for 2018:
• Protrade sells Seacraft a building on January 1, 2017, for $122,000, although its book value was only $71,000 on this date. The building had a five-year remaining life and was to be depreciated using the straight-line method with no salvage value.
  Determine balances for the following items that would appear on consolidated financial statements for 2018:

• Determine balances for the following items that would appear on consolidated financial statements for 2018:

• Determine balances for the following items that would appear on consolidated financial statements for 2018:

Presented below is an amortization schedule related to Stock Company’s 5-year, $200,000 bond with a 7% stated interest rate and a 5% market interest rate yield, purchased on December 31, 2017, for $217,320. The interest is paid each December 31, and the investor receives the first interest payment on Dec 31, 2018.

The following schedule presents the fair value of the bonds at year-end.

Required:

1. Prepare the journal entries related to bonds for 2017 and 2018 assuming the bonds are classified as financial assets at amortized cost.

2. Prepare the journal entries related to the fair value adjustment for the bonds on 31 December 2019 assuming these bonds are classified as financial assets at fair value through profit or loss (FVTPL).

3. Prepare the journal entries related to the fair value adjustment for 2018 and sale of bonds for 2019 assuming these bonds are classified as financial assets at fair value through other comprehensive income (FVTOCI). The bonds are sold at the fair value on 31 December 2019.

Part B:

Task Ltd. has the following transactions in purchasing and selling the ordinary shares of Sugar Company:

15. Jul. 2018          Purchased 12,000 shares of Sugar Company @ $100 per share.

31. Dec. 2018         The fair value of the ordinary shares of Sugar Company is $160 per share.

15. Jan. 2019         Sold the 4,000 ordinary shares of Sugar Company @ $150 per share.

Required:

Task Ltd. classifies the investment in the ordinary shares of Sugar Company as financial assets at fair value through other comprehensive income in accordance with HKFRS 9. Prepare journal entries for Task Ltd. to record the above transactions for 2018 and 2019.

Part C:

On 1 January 2018, Wet Co. acquired a loan investment of $1,600,000 with interest payable annual at 8%. The investment is measured at amortised cost.

At 1 January 2018, there is a 5% probability that the borrower will default on the loan during 2018 resulting in a 100% loss.

At 31 December 2018 there is 3% probability that the borrower will default on the loan before 31 December 2019 resulting in a 100% loss. There is no significant increase in the borrower’s credit risk during 2018.

Required:

In accordance with HKFRS 9, what impairment loss is recognised at initial recognition and on 31 December 2018?

What is the company’s Free Cash Flow (FCF)? Use the information to answer the following questions.

XXX, Inc.

Balance Sheet

XXX, Inc.

Income Statement

What is the 2008 Net Operating Working Capital? What is the 2007 NOWC?

Select one:

a. 2350; 1200

b. 4350; 2700

c. 6660; 4200

d. 1150; 700

e. 5550; 3200

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Continued from previous question. What is the 2008 Free Cash Flow?

Select one:

a. +1990

b. -1990

c. -1590

d. +1590

e. -2400

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Continued from previous question. What is the 2008 total invested capital? What is the 2007 TIC?

Select one:

a. 12210; 8500

b. 9550; 6700

c. 10150; 7000

d. 11350; 7500

e. 8350; 6200

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Continued from previous question. Assume the after-tax cost of capital is 10%. What is the 2008 EVA?

Select one:

a. +1680

b. + 725

c. +1125

d. -1125

e. - 725

Estimate a linear time trend for the Netflix data using data for the period 2000Q1 ... Estimate a linear time trend for the Netflix data using data for the period 2000Q1 to 2008Q4. a. Carry out a preliminary analysis of the data including a line fit plot and interpret your results. b. Test whether the slope is significantly different from zero, using alpha = 0.05. c. Compute S and R2 and interpret the results. d. Compute point forecasts for sales in each quarter of 2009. e. Comment upon your results. Note: you can use Regression under the Data Analysis tool in Microsoft Excel.

3,1. Suppose that the price of an asset at close of trading yesterday was $350 and its volatility was estimated as 1.4Voper day. The price at the close of trading today is $347. Update the volatility estimate using
(a) The EWMA model with A = 0.95,
(b) The GARCFI(1,1) model with tir = 0.000003, o= 0.05, and B = Q.<15. (5)
3.2 The number of visitors to websites follows the power law in equation (10.1) with q = 2.
Suppose that 1 .5% of sites get 550 or more visitors per day. What percentage of sites get
(a) 1,500 more visitors per day
(b) 2,500 or more visitors per day

Assume the following relations are given,

Student: <StudentiD, Name, Surname, Major, YearStarted>

Write necessary queries for the followings:

1- Create the table and define necessary constraints (primary key, null constraint, etc.).

2- Insert at least 5 records into the table using Insert SQL.command.

3- Select all students having a major of Computer Engineering, print their name and student ID.

4- Update starting year of all Engineering students to 2015 (use like clause).

5- Delete all student with starting year less than 2010.

6- List all records and verify the results.

7- Drop the table.