Blue Company began operations on January 1, 2019, adopting the conventional retail inventory system. None of the company’s merchandise was marked down in 2019 and, because there was no beginning inventory, its ending inventory for 2019 of $38,200 would have been the same under either the conventional retail system or the LIFO retail system.

On December 31, 2020, the store management considers adopting the LIFO retail system and desires to know how the December 31, 2020, inventory would appear under both systems. All pertinent data regarding purchases, sales, markups, and markdowns are shown below. There has been no change in the price level.

Determine the cost of the 2020 ending inventory under both (a) the conventional retail method and (b) the LIFO retail method.

4b. On June 30, 2020, Lansing Company was notified by its only customer that the

Customer will no longer order its product. All existing orders are expected to be completed by May 2021. From July through December 2020, Lansing Company continued efforts to raise additional financing from venture capital groups and secure new customers. By December 15, 2020, it was evident that these efforts would not be successful.

On March 1, 2021, Lansing Company obtains the required shareholder approval for a plan of liquidation that will be completed by May 2021. Upon ceasing its operations, all employees will be terminated, and Lansing Company’s assets will be liquidated to repay its creditors. The criteria for liquidation being imminent are met under FASB ASC 205 on October 29, 2021.

Required:

a. How should Lansing Company report these facts on its December 31, 2020 financial

statements?

b. How should Lansing Company report these facts during 2021?

This assessment task aims to develop your ability to apply the first three phases of the clinical reasoning process, at an introductory level, to the patient scenario below. You are a student nurse working with a school nurse (registered nurse) in a secondary school. You and your mentor are supervising a bubble soccer match this afternoon (26th March) which commenced at 1400 hrs. The match goes for 40 minutes with a 5-minute break in between the two halves. It is a hot and sunny day, the air temperature is 32 oC and the humidity is 45%. After the match, your mentor asks you to perform a range of health assessments to make sure the students are fit to go home. Jessie Lin is 16 years old and in Year 11. It is now 1450 hours. You assess Jessie's vital signs and record the following results: Temperature (tympanic) 38.5 oC Pulse rate 140 beats/min Respiratory rate (RR) 29 breaths/min Blood pressure (BP) 130/70 mmHg Jessie has flushed skin (see picture above) and her t-shirt is soaked. Her past medical history has not yet been documented in the school record as she is a new student and only enrolled in the school last week after moving from another state. She informs you that her mother is waiting for her in the car park, but she feels very hot and that her heart feels like it is beating very fast. She asks you for a bottle of cold water and a chair. Jessie's previous observation records (on a clinical chart) are: Date BP Pulse RR Temp 23rd March 2020 110/60 70 14 36.8 24th March 2020 112/60 74 12 36.6

Question:

Propose what further cues you want to collect and explain why these are relevant and important to the situation (approx. 450 words) To do this successfully, you will need to form a logical opinion about what the further cues should be, when you would undertake the assessments to collect these cues (e.g. after some immediate actions for Jessie) and why these cues should be assessed. Relate your justification to Jessie's situation AND to the principles of anatomy and normal physiology (focusing on homeostasis).

Broussard Skateboard's sales are expected to increase by 25% from $8.0 million in 2019 to $10.00 million in 2020. Its assets totaled $5 million at the end of 2019.

Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 3%, and the forecasted payout ratio is 75%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Do not round intermediate calculations. Round your answer to the nearest dollar.

Broussard Skateboard's sales are expected to increase by 20% from $8.0 million in 2019 to $9.60 million in 2020. Its assets totaled $4 million at the end of 2019.

Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 4%, and the forecasted payout ratio is 75%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Do not round intermediate calculations. Round your answer to the nearest dollar.

AFN equation

Broussard Skateboard's sales are expected to increase by 25% from $8.8 million in 2019 to $11.00 million in 2020. Its assets totaled $3 million at the end of 2019.

Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 5%, and the forecasted payout ratio is 40%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Do not round intermediate calculations. Round your answer to the nearest dollar.

QUESTION 2 (UNIT 3)
a) Distinguish the differences between stock splits and stock dividends.

b) Recent dividend distributed RM1. Suppose a firm is expected to increase dividends by 20% in one year and by 15% in two years. After that, dividends will increase at a rate of 5% per year indefinitely. If the required return is 20%, calculate the stock.

BBF302/05 FINANCIAL MANAGEMENT AND ANALYSIS
JULY 2020
ASSIGNMENT 2
Page 3 of 4
c) Capital Bhd. just paid a dividend of RM2.00 per share on its stock. The dividends are expected to grow at a constant 6 percent per year indefinitely. If investors require a 13 percent return on Capital stock, calculate;
i) The current stock price

ii) The stock price in 3 years

iii) The stock price in 15 years

On January 1, 2019, Smith Inc. granted 6,500 Stock Appreciation Rights (SAR) to its executives, exercisable 2 years after grant date (unless employment is terminated) and prior to 8 years from grant date. The executives are to receive cash at exercise date for the excess of the market price over the pre-established base price of $25. The year-end fair values of each SAR were $3, 5.50, and $4.80 in 2019, 2020 and 2021 respectively. The executives exercise their SARs on 8/7/22 when the market price was $32 per share.

1.     Prepare a properly labeled schedule to determine the amount of compensation expense for each of the four years.
2.    Prepare the journal entries at 12/31/19, 12/31/20, 12/31/21, and 8/7/22.

Oman International Marketing Company (OIMC) has decided to issue an IPO for OMR 4.980 Million in June 2020. The per share value is decided for 600 Baiza. Oman International Marketing has appointed your firm as an underwriter for this IPO. During the phase of ‘call for application’, your firm has received applications for 9.500 Million shares.

Required:

1. Whether OIMC’s IPO is undersubscribed or oversubscribed with current receipt of applications for shares i.e. 9.500 Million shares?
2. How many actual applications are needed for full subscription of OIMC’s IPO?
3. After receipt of applications for 9.500 Million shares, as an underwriter of this IPO, which treatment you would suggest to the management of Oman International Marketing Company to make this IPO up-to its ‘Full Subscription’ only?