Habiby, Inc., began operations in 2018 and has the following income and expenses for 2018 through 2021.

a. What is the amount of tax that Habiby should pay each year? If an amount is zero, enter "0".

b. How much would Habiby have paid in tax if the old NOL rules were in place but the corporate tax rate was 21 percent?. If an amount is zero, enter "0".

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HANGZHOU, China -- When Michelle Xian wandered into one of the fast-food restaurants at a shopping mall here on a recent weekday, she didn't realize it was a KFC.

The modern décor featured an open kitchen and hanging plants, and the menu included tuna-and-pesto paninis and quinoa-and-corn salads. Customers were busy placing orders via smartphone, using QR codes printed on tables, or through a facial-recognition system that matches their images to their Alipay digital wallets.

"I don't normally go to KFC because it's not that healthy," said Ms. Xian, 30 years old, who ordered a chicken sandwich before being told where she was. "This is more aligned with new trends."

The KFC concept store, known as KPRO, is a testing ground for owner Yum China Holdings as it tries to capture a new audience and drive growth in the wake of its spinoff from U.S. parent Yum Brands Inc. a year ago last week. In a strategic break from its American counterpart, which is going back to finger-lickin' basics in the U.S., Yum China is pushing healthier offerings and technology.

Since the spinoff, China's biggest fast-food chain, with more than 7,700 KFC and Pizza Hut stores, has bought a controlling stake in an online food-delivery company, partnered with China's most-popular digital wallet service and improved its smartphone apps.

Yum China's 63-year-old chief executive, Muktesh "Micky" Pant, concedes he was skeptical of the emphasis on apps at first, telling his team they were too complicated.

"They very politely told me to just hang on, and I'm glad I didn't interfere," he said in a recent interview. "People have far more apps on their phones, and they are able to navigate them effectively."

Mobile payments at Yum China's restaurants represented 45% of sales in the quarter ended Aug. 31, up from 17% in all of 2016. Delivery orders, most of which come from online apps, were 14% of sales in the same period, up from 10% last year. Its two-year-old loyalty program, meanwhile, has become one of the largest in the world, with more than 127 million members -- dwarfing industry leader Panera Bread Co. in the U.S., which has about 25 million members.

Net income in the first eight months of this year rose 19% over the same period a year earlier, while system sales, which include revenue from franchises and joint ventures, grew 10% in the latest quarter.

"To the U.S. investor, the numbers look meteoric," said Sara Senatore, an analyst at Sanford Bernstein. Shares in Yum China are up more than 65% since the company was listed on the New York Stock Exchange in November 2016.

"But Yum, broadly speaking, is holding its own," she added, keeping pace with Chinese chain restaurant sales.

One not-so-bright spot for Yum China is Pizza Hut. Sales at its stores open at least a year were flat in the most recent quarter, compared with 7% sales growth at KFC.

Yum Brands was the first major Western fast-food company to enter China, beating McDonald's Corp. by three years when it opened a KFC near Tiananmen Square in 1987. Its long success was dimmed in recent years by food-safety scares and stronger competition, leading the parent company to spin it off and instead collect a percentage of sales.

"Food safety and nutrition is a greater consideration for Chinese consumers, while speed of service and authenticity is more important to U.S. consumers," said Morningstar analyst R.J. Hottovy in an email. Technology also figures heavily in Yum China's strategy. The company has partnered with Alibaba Group Holding Ltd. affiliate Ant Financial to offer its "smile to pay" system at the KPRO in Hangzhou, Alibaba's headquarters city.

Customers go to a self-serve kiosk to choose items on a video screen, then pay by looking at a camera, provided they've enabled facial-recognition on their Alipay app. For security, they must also enter their phone number.

On December 31, 2020, Jen & Mink Clothing (J&M) performed the inventory count and determined the year-end ending inventory value to be $75,500. It is now January 8, 2021, and you have been asked to double-check the year-end inventory listing. J&M uses a perpetual inventory system. Note: Only relevant items are shown on the inventory listing.

The following situations have been brought to your attention:

1. On January 3, 2021, J&M received a shipment of 100 blue jackets, for $2,000 (Item #7649). The inventory was purchased December 23, 2020, FOB destination from Global Threads. This inventory was included in J&M’s inventory count and inventory listing.
2. On December 29, 2020, J&M sold scarves (Item #5566) to a customer with a sale price of $700 and cost of $500, FOB shipping. The order was shipped on December 30, 2020. J&M has not included this inventory.
3. Red Blazers (Item #6193) were purchased and shipped from International Co. on December 30, 2020, for $3,300, FOB shipping. The shipment arrived January 5, 2021, and the appropriate party paid for the shipping charges of $320. Additional costs were $220 for import duties and $60 for insurance during shipment. J&M has not included this inventory.
4. At year-end, J&M is holding $5,000 of black pants (Item #10824) on consignment for designer Duke Co. This inventory was included in J&M’s inventory count and inventory listing.
5. On December 31, 2020, J&M shipped white shirts (Item #4291), FOB destination costing $1,000 to a customer. The customer was charged $1,400 and the customer received the goods on January 3, 2021. J&M has not included this inventory.

Required:
1. In situations (a) to (e) determine whether inventory should be included or excluded in inventory at December 31, 2020. If the inventory should be included, determine the correct inventory cost. (Do not leave any empty spaces; input a 0 wherever it is required.)

2. Determine the correct ending inventory value at December 31, 2020. Starting with the unadjusted inventory value of $75,500, add or subtract any errors based on your analysis in Part 1. Assume all items that are not shown in the inventory listing are recorded correctly.

Next

Please solve all answers on Excel and show step by step how you get the WACC answer.

  Tornado Motors is a major producer of sport and utility trucks. It is a family owned company,

started by Jane Biscayne in 1935, at the height of the Great Depression. Today the firm produces 3 lines

of trucks. These include a standard, no-frills short bed pickup truck (Model A), a mid-size version

(Model B

)

and a larger, heavy-duty work truck (Model C). Janet Biscayne, the founder’s grand-daughter

is the current CEO. She has asked you to provide a financial analysis of an idea that originated in the

company’s engineering department. The engineers have developed a “green” version of the smallest of

Tornado’s trucks – Model A. The green version would be made of recycled materials and would run on a

hybrid engine. Based on the results of a large market analysis, the CEO believes that there would be a

sizable demand for the green version of the Model A truck. Tornado pays an average tax rate of 40%. It

requires a 15% return on investments of this character.

The engineering department estimates that it would cost $40 million to purchase the additional

equipment necessary to convert an existing facility to production of the green trucks. This equipment is

expected to last 5 years and could be sold as salvage for $2 million at the end of its useful life. The full

cost of the equipment will be depreciated on a straight-line basis over 5 years. The marketing department

estimates that with a sticker price of $35,000 sales of the green trucks would be 6,000, 7,500, 8,000,

8,500 and 8,700 in each of the next five years. The green trucks are expected to cost $29,500 each to

produce. In addition, fixed costs associated with the production of the new trucks would be $15 million

per year and the truck production would require an additional initial one-time investment in Net Working

Capital of $5 million.

In addition, you are given the following information:

o

The company spent $4 million developing a prototype for the hybrid engine that would

be used in the green truck. In addition, the company spent $5 million on a marketing

study to evaluate demand for the green version.

o

The marketing department warns that it expects that production of the green trucks would

adversely affect sales of the current standard version of the Model A trucks as some of

the buyers who would have bought the standard model will be attracted to the green

version. The standard version costs $24,500 to produce and sells for $29,000. If the

green version is not introduced, the company expects to sell 9,000 units per year for the

next five years. However, with competition from the green version, annual sales of the

standard version are expected to decline by 500, 700, 1,000, 1,200 and 1,500 units in

each of the next 5 years. Furthermore, marketing expects that the company will have to

lower the price by $1,000 in order to achieve this level of sales.

o

The company’s stock is currently sold at $20.00 per share. It paid $2 dividend per share

last year. It is expected that the dividend growth rate will be 5% each year in the future.

The company’s bond has a 6-year bond outstanding. It is currently priced at $906.15. The

bond pays 6% coupon semi-annually. The par value of the bond is $1,000. The

company’s market value debt-equity ratio is 0.5 (D/E=0.5)

Profit Center Responsibility Reporting for a Service Company

Thomas Railroad Company organizes its three divisions, the North (N), South (S), and West (W) regions, as profit centers. The chief executive officer (CEO) evaluates divisional performance using income from operations as a percent of revenues. The following quarterly income and expense accounts were provided from the trial balance as of December 31:

The company operates three service departments: the Dispatching Department, the Equipment Management Department, and the Treasurer’s Department. The Treasurer’s Department and general corporate officers’ salaries are not controllable by division management. The Dispatching Department manages the scheduling and releasing of completed trains. The Equipment Management Department manages the inventories of railroad cars. It makes sure the right freight cars are at the right place at the right time. The Treasurer’s Department conducts a variety of services for the company as a whole. The following additional information has been gathered:

Required:

1. Prepare quarterly income statements showing income from operations for the three regions. Use three column headings: North, South, and West. Do not round your interim calculations.

Feedback

1. Determine the dispatching rate per train by dividing service cost by output. For each division's dispatching cost, multiply the dispatching rate by the number of scheduled trains. Repeat this process for the other service department charges. Subtract the service department charges for a division from that division's income from operations before such charges.

2. What is the profit margin of each division? Round to one decimal place.

Identify the most successful region according to the profit margin.
West

3. What would you include in a recommendation to the CEO for a better method for evaluating the performance of the divisions?

1. The method used to evaluate the performance of the divisions should be reevaluated.
2. A better divisional performance measure would be the rate of return on investment (income from operations divided by divisional assets).
3. A better divisional performance measure would be the residual income (income from operations less a minimal return on divisional assets).
4. None of these choices would be included.
5. All of these choices (a, b & c) would be included.

How does your initiative support student learning in the classroom?

Cost/Factors for implementation

the bottom you will see what our company about i need help writting answers to the above question you represent a company that specialized in educational technology, specifically for STEM program. Your company has received $25,000 in federal funding to supply technology hardware or software to improve STEM education at the college level in the Boston metropolitan area. You will be meeting with an administrator of the Benjamin Franklin Institute of Technology administration to present how your educational initiative can improve student learning and job readiness skills for students across the college.

Emily Leopold
Director of Career Services and Industry Partnership Benjamin Franklin Institute of Technology

Dear Ms. Emily Luopold,

My name is Mark Griffin ​and I am co-Chief Executive Officer of C & J BIomedical Equipments. Our company creates and supplies both hospitals and clinics with imaging technology, such as x-ray machines, ​computed tomography (CT) scanners, and magnetic resonance imaging (MRI) machines.

We are writing to you because we believe that your institution, Benjamin Franklin Institute of Technology, shares our belief in facilitating student success and career readiness in technology fields. In respect to ​Biomedical Engineering Technology, Computer Engineering Technology, Electrical Technology and Electronic Engineering Technology. ​We also believe that assisting students in owning their technical skills, understanding the impact of sustainable development and also demonstrating professionalism through leadership, a strong work ethic, and teamwork, is the best way to produce the most skilled members of named technical fields.

The mission of C & J Biomedical Equipments is to create innovation and improve lives through technology advancement. At present we have several departments that focus on the different fields of technologies used to create our state of the heart healthcare equipment. ​Our reason for approaching you is that we are seeking partnerships with like-minded institutions that also have a goal of seeing more young people hold positions in the technology field. In trying to identify those institutions that share our goal it was hard to go past BFIT, which has been an integral part of educating young people in the Boston community since 1908.

Our company is seeking to supply technology hardware to improve the STEM education provided at BFIT, which I would like to discuss further. We think this arrangement would provide your institution with a real profile boost in resources; in addition, this would benefit the community through strengthening and advancing the students’ accessibility to extensive tools or

C & J Biomedical Equipments Office of the CEO 123 Biomedical Science Ave.,

Building 3, Boston, MA 01234

equipment to be used for their success. We hope that Benjamin Franklin Institute of Technology considers our offer.

I can be contacted during business hours on (857) 555-5555, or on mobile (617) 555-5555, while our other co-CEO, Matt Due, can be contacted on (917) 555-5555. I look forward to discussing this opportunity with you.

Thanks for your time and respectfully,

(Mr.) Mark Griffin
Co-Chief Executive Officer
C & J Biomedical Equipments

In 2018, CBS Corporation submitted a below market bid to acquire Viacom. The rationale for the below market price bid stems from CBS’s due diligence of Viacom and numerous assumptions made by the Viacom management team about Viacom’s business prospects. In short, the CBS due diligence team discounted those statements made about Viacom’s business prospects by discounting the price offered. In addition to the perceived discounted price offered by CBS, there is a growing discord over who would run the combined CBS/Viacom entity. Shari Redstone of National Amusements is a majority shareholder in both CBS and Viacom. She has asked for CBS to acquire Viacom, but she believes that it is in the best interest of the new entity to be run by the current CBS CEO (Leslie Moonevs) and the number two position (COO and President) should be given to current Viacom CEO (Robert Bakish). However, CBS’s special advisory board believes that the current COO and President of CBS (Joe Ianniello) should have the number two position to ensure a smooth transition and continuity of operations. In response to the offer, Viacom’s advisory board has asked that CBS raise its bid by $2.8 billion. Company Backgrounds Viacom Inc . offers global media brands that create television programs, motion pictures, short-form content, applications, games, consumer products, social media experiences and other entertainment content. As of September 30, 2016, the Company offered its services for audiences in more than 180 countries. The Company operates through two segments: Media Networks and Filmed Entertainment. The Media Networks segment creates, acquires and distributes programming and other content for audiences The Media Networks segment provides entertainment content and related branded products for advertisers, content distributors and retailers. The Filmed Entertainment segment produces, finances, acquires and distributes motion pictures, television programming and other entertainment content under the Paramount Pictures, Paramount Vantage, Paramount Classics, Paramount Animation, Insurge Pictures, Nickelodeon Movies, MTV Films and Paramount Television brands. CBS Corporation is a mass media company. The Company operates through four segments: Entertainment, Cable Networks, Publishing, Local Media. The Entertainment segment comprises the CBS TV Network; CBS TV Studios; CBS Studios International and CBS TV Distribution; CBS Interactive; CBS Films; and the Company's digital streaming services, CBS All Access and CBSN. The Cable Networks segment comprises Showtime Networks, which operates its subscription program services, Showtime, The Movie Channel, and Flix. The Publishing segment comprises Simon & Schuster, which publishes and distributes consumer books under imprints such as Simon & Schuster, Pocket Books, Scribner and Gallery Books. The Local Media segment comprises CBS TV Stations, it owns 30 broadcast TV stations; and CBS Local Digital Media. Its businesses span the media and entertainment industries, including the CBS TV Network, cable networks and content production and distribution.

Given the information from contained in the question and your limited understanding of CBS and Viacom, discuss four problems that may occur as a result of this acquisition based on the information contained in the question

Darryl Kerrigan is the director of DK Pty Ltd, which is a property investment company in Sydney and the company is registered for Goods and Services Tax (GST). Due to the COVID-19 impact, DK Pty Ltd has decided to rent out their twenty (20) existing office units that they finished in a building project in February 2020. To negotiate rental contracts, DK Pty Ltd employs a property lawyer, Mr. Dennis Denuto. Dennis is a busy lawyer and his practice income is $300,000 per year. DK Pty Ltd offered Dennis a rent-free office in the city of Sydney in exchange for his service to DK Pty Ltd. The market rental value of the office provided to Dennis is $38,000 per year. Required: Advise of the GST obligations and the input tax credit of this arrangements to DK Pty Ltd and Mr. Dennis Denuto.