1. What is the exact amount that account receivables increased during the year? Hint: Use the Statement of Cash Flow.

2. What is the total Cost of Sales for the year?

3. How much did Park Systems invest in radio facilities?

4. What is EBITDA (Net Income before Interest Expense, Taxes, Depreciation and Amortization are deducted)?

5. How much did the company pay down its Note Payable?

Park Systems
Balance Sheet
Years Ended December 31
(in thousands)

Assets
Current Assets
Cash $ 23,283
Accounts Receivable, net 38,316
Prepaid Expenses 3,655
SIM Inventory 6,881
Total Current Assets 72,135

Long-Term Assets
Property & Equipment, net 462,602
Total Assets $ 534,737

Liabilities and Equity
Current Liabilities
Accounts Payable $ 14,807
Accrued Payroll 5,863
Accrued Expenses 14,659
Note Payable, current 26,972
Total Current Liabilities 62,301

Long-Term Liabilities
Note Payable, non-current 296,849
Total Liabilities 359,150

Stockholders Equity
Common Stock 134
Retained Earnings 175,453
Total Stockholders Equity 175,587
Total Liabilities & Stockholders Equity $ 534,737

Park Systems
Income Statement
Years Ended December 31
(in thousands)

Revenues
Data $ 201,663
SIM Subscription 120,998
SMS (texting) 40,333
SIM Purchase & Activation 19,113
Other Revenue 1,053
Total Revenues 383,160

Cost of Sales
GSM Roaming & Local Data 110,915
Carrier SMS Fees 24,200
SIM Manufacturing 8,601
Direct Labor 19,158
Total Cost of Sales 162,873
Gross Profit 220,287

Operating Expenses
Core Telecom Network Ops 66,086
Sales and Marketing 32,575
Research and Development 9,772
Radio Tower Facilities 4,886
General & Administrative 65,149
Total Operating Expenses 178,468

Operating Income 41,818
Investment Income 1,685
Interest Expense (9,715)
Foreign Exchange Gain (Loss) (1,836)
Tax Provision Expense (3,904)
Other Income (Expense) 1,051
Net Income $ 29,100

Park Systems
Statement of Cash Flows
Year Ended December 31
(in thousands)

Operating Activities
Consolidated net income $ 29,100
Adjustments
Depreciation and amortization 4,819
Changes in assets and liabilities:
Accounts receivable (3,483)
Inventory (9,891)
Accounts payable 888
Accrued expenses 20,670
Net cash provided by operating activities 42,103

Investing Activities
Investment in radio facilities (17,102)
Capital Equipment expenditure (5,783)
Net cash (used in) investing activities (22,884)

Financing Activities
Payments on note payable (6,476)
Net cash provided by financing activities (6,476)
Net increase (decrease) in cash and equivalents 12,743
Cash and equivalents, beginning of year 10,540
Cash and equivalents, end of year $ 23,283

Alternative Inventory Methods

Park Company's perpetual inventory records indicate the following transactions in the month of June:

Units Cost/Unit
Inventory, June 1 200 $3.20
Purchases:
      June 3 200 3.50
      June 17 250 3.60
      June 24 300 3.65
Sales:
      June 6 300
      June 21 200
      June 27 150

Required:

1. Compute the cost of goods sold for June and the inventory at the end of June using each of the following cost flow assumptions: If required, round your answers to the nearest dollar.

FIFO

Cost of Goods Sold $ _____________
Ending Inventory $ ______________

LIFO (Round your intermediate calculations and final answers to the nearest cent.)

Cost of Goods Sold $ ___________
Ending Inventory $ _____________

Average cost (In your computations, round new per unit costs to the nearest cent. Round your intermediate computations and final answers to the nearest dollar.)

Cost of Goods Sold $ ___________
Ending Inventory $ ____________

Northwood Company manufactures basketballs. The company has a ball that sells for $25. At present, the ball is manufactured in a small plant that relies heavily on direct labor workers. Thus, variable expenses are high, totaling $15.00 per ball, of which 60% is direct labor cost. Last year, the company sold 36,000 of these balls, with the following results: Sales (36,000 balls) $ 900,000 Variable expenses 540,000 Contribution margin 360,000 Fixed expenses 263,000 Net operating income $ 97,000 (5) Refer to the original data. The company is discussing the construction of a new, automated manufacturing plant. The new plant would slash variable expenses per ball by 40.00%, but it would cause fixed expenses per year to double. If the new plant is built, 6. Refer to the data in (5) above. a. If the new plant is built, how many balls will have to be sold next year to earn the same net operating income, $97,000, as last year? b. Assume the new plant is built and that next year the company manufactures and sells 36,000 balls (the same number as sold last year). Prepare a contribution format income statement and Compute the degree of operating leverage.

For the amusement of the guests, some hotels have elevators on the outside of the building. One such hotel is 300 feet high. You are standing by a window 100 feet above the ground and 150 feet away from the hotel, and the elevator descends at a constant speed of 30 ft/sec, starting at time

t = 0,

where t is time in seconds. Let θ be the angle between the line of your horizon and your line of sight to the elevator.

(a) Find a formula for

h(t),

the elevator's height above the ground as it descends from the top of the hotel.
h(t) =  

  

(b) Using your answer to part (a), express θ as a function of time

t.

θ(t) =  

tan−1(2−t5​)

Find the rate of change of θ with respect to t.

=  

(c) The rate of change of θ is a measure of how fast the elevator appears to you to be moving. At what height is the elevator when it appears to be moving fastest?
h =  

Park Corporation is planning to issue bonds with a face value of $700,000 and a coupon rate of 7.5 percent. The bonds mature in 6 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Park uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8.5 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.) Required: 1. Prepare the journal entry to record the issuance of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2. Prepare the journal entry to record the interest payment on June 30 of this year.

3. What bond payable amount will Park report on its June 30 balance sheet?

A question of interest to game managers is the hunting strategy of predators. Do they just take the first prey that comes along, or are the selective? In a study of winter prey selection in a National Park, radio-tagged wolves were observed to have killed prey according to the table below. Wolves were identified as the predators by their tracks in the snow. At the most recent census in the National Park there were about 3,500 white-tailed deer, 1,000 elk, and 500 moose.

                                                                               Prey Selection by Wolves

Do these data provide sufficient evidence at the a=.05 level that the wolves are not selecting their prey at random? That is, is there evidence that the proportion of deer, elk, and moose killed by wolves are not in the same proportion as in the park population? Justify your response with an appropriate statistical analysis. Using a=.05

Answer:

H₀:

H_a:

a=.05

Rejection region:

Value of the test statistic:

p-value:

State your conclusion:

Milky entered into a contract for the hire of 6 rooms in New Castle Hotel in    Kowloon West. The purpose of the contract was to watch the fireworks gala in the Victoria Harbour on the 1st July (Reunification Day) through the windows of the rooms. Milky planned to invite her close friends and their families to stay in the 6 rooms to enjoy the fireworks. Just two hours before start of the fireworks, the Hong Kong Police Force received a serious threat from some terrorist organizations that they would launch large scale attack to the crowds who gathered to watch the fireworks. The Hong Kong Government immediate ordered the cancellation of the fireworks and gave an order that this kind of gala will not be launched at least for five years. Milky, having already paid a deposit, refused to pay the balance of the room charges. The hotel took legal action to recover the balance.

Required:

Analyse the chance of success by the hotel and explain in detail the legal principles that you base on for analysis.

A common room pricing strategy used by hotels is to price each day for which this room can be reserved, as discussed in the lecture. The price of a stay is then the sum of the day prices spanned by the stay (i.e., checkin and checkout dates). Full-service airlines, as you may already know, typically price itineraries. a. Explain the differences between day pricing of hotel rooms and the pricing of airline itineraries? (i.e. What is the product?, What is the resource?, and What is being priced?) b. Consider the purchase of a customized laptop on Dell’s website. Customization involves choosing laptop components that have different price points. The choice of components determines the ultimate price of the laptop. Explain why the day pricing of hotel rooms is a special case of the problem of pricing laptop components being shown to customers in Dell’s website. c. Why is Dell’s pricing problem more complicated than the pricing problem faced by a hotel?

Use the code below as the basis for a hotel reservation system (HRS). The customer calls the hotel front desk to book a room. The front desk is running your software on one of its computers. The basic operations available are:

1. book one room,
2. book two adjoining rooms,
3. list all unoccupied rooms,
4. list all occupied rooms,
5. help lists information about available methods,
6. report percent of hotel rooms that are unoccupied,
7. quit the system (shut the system down).

The people at the front desk choose a particular operation, typically in response to a phone call.

Start by modularizing the existing program code below as follows. Create a method from the welcome message (and call this new method from main). Next, create a method from the end message (and also call it from main). Finally, create a method from the help information (and call from main too).

Now we'll implement the methods of the HRS. A new method, bookOneRoom, should randomly book one room when 'b' or 'B' is pressed. Once a room is chosen, it should call bookARoom to indicate that the room is now booked. A new method, bookTwoRooms, should randomly book two rooms when '2' is pressed. It should call bookARoom (twice). Also, write a method that lists (prints out) the room numbers of all of the unoccupied rooms (when the user presses 'l' - lowercase L). Similarly, write a method that lists (prints out) the room nummbers of all of the occupied rooms (when 'L' is entered). Finally, write a method that reports the percentage of the hotel rooms that are unoccupied. This method should use the existing occupiedCount method.

Note: Every method should be preceeded by a comment that explains what the method does.

Summary of what to submit:

A properly commented, indented, and working program.

/*
file:      HRS.java
author:    < your-name-here >
desc.:     Hotel Reservation System (HRS)
*/
import  java.util.Scanner;

class HRS {

    final static int      N = 101;
    final static boolean  Occupied = true;
    //------------------------------------------------------------
    //program initialization
    static void initialize ( boolean[] rooms ) {
        for (int i=0; i<rooms.length; i++)
            rooms[i] = !Occupied;
    }
    //------------------------------------------------------------
    //book a particular room
    static void bookARoom ( int rm, boolean[] rooms ) {
        assert( rooms[rm] == !Occupied );  //cause boom if bad
        rooms[ rm ] = Occupied;
    }
    //------------------------------------------------------------
    //determine how many rooms are occupied in our hotel
    static int occupiedCount ( boolean[] rooms ) {
        int  count = 0;
        for (int i=1; i<rooms.length; i++) {
            if (rooms[i])    ++count;
        }
        return count;
    }
    //------------------------------------------------------------
    //it all starts here
    public static void main ( String[] args ) {
        //say hello
        System.out.println();
        System.out.println( "Welcome to HRS (Hotel Reservation System)." );
        System.out.println();

        boolean[]  hotel = new boolean[ N ];
        initialize( hotel );
        Scanner  kbd = new Scanner( System.in );
        boolean  timeToQuit = false;
        while (!timeToQuit) {
            //prompt for and read a command
            System.out.print( "HRS --> " );
            String  command = kbd.nextLine();

            //process the command
            if (command.equalsIgnoreCase("q")) {
                timeToQuit = true;
            } else if (command.equals("?")) {
                System.out.println();
                System.out.println( "Enter..." );
                System.out.println( "    2     to book two adjoining rooms" );
                System.out.println( "    b/B   to book a single room" );
                System.out.println( "    l     to list all unoccupied rooms" );
                System.out.println( "    L     to list all occupied rooms" );
                System.out.println( "    h/H/? for help" );
                System.out.println( "    p/P   for percent unoccupied" );
                System.out.println( "    q/Q   to quit" );
                System.out.println();
            } else {
                System.out.println( "    Please enter a valid command." );
            }
        }

        //say goodbye
        System.out.println();
        System.out.println( "Thanks for using HRS!" );
        System.out.println();
    }
}