Acute Vs. Long-Term Care

Acute and long-term care are two significantly different health  service delivery models designed to meet different patient needs. Acute  care facilities generally deal with immediate, generally urgent, medical  needs, focusing on stabilizing the patient and discharging them as soon  as possible. In contrast, long-term care facilities take an ongoing  approach to care, as patients are often considered residents for varying  periods of time.
To prepare for this Discussion, review  this week’s Learning Resources. Consider your experience preparing for  the Week 2 Application Assignment.

By Day 4

Post a comprehensive response to the following: 300 words

  • What are at least two similarities and two  differences between traditional hospital and nursing-home settings? What  are some of the important practical effects of the similarities and  differences?
  • What are some of the alternatives to historical long-term care-delivery models?

Case study

◦What determination does a judge need to make before a defendant is allowed to represent himself or herself? ◦Did Judge Jet satisfy the requirements in the case of Leon Keller? ◦What Supreme Court decision established the right to represent oneself? What was the Court’s reasoning?  2.Explain what crimes indigent defendants have the right to the appointment of counsel. Do you agree with this? What would happen if there were no standards in place to provide representation to the indigent?   3.There are two ways in which unnecessary suggestiveness can be injected into a pretrial witness identification. List and explain the ways, and provide examples to illustrate.   4.Which of the three witness identification procedures can be challenged under the due process clause? Explain why this is this important for police officers to understand, and how these procedures surface in conjunction with police work.

Incident Action Plan Phase 1

Incident Action Plan [IAP] Phase 1 For this assignment, you will begin working on an Incident Action Plan (IAP), which is due in Unit VIII. There are five phases to the IAP. You will complete Phase 1 in this assignment. Refer to the FEMA Incident Action Planning Guide, specifically Phase 1. See Unit VIII assignment instructions for more details about the final requirements for the IAP. The incident action planning process will be a way for you to plan and execute operations on any incident that may occur within the community provided in the scenario. This means that incident action planning will be more than producing an IAP. It will be a set of activities in each unit that provides a consistent rhythm and structure to incident management of any type. In several units of this course, through the incident action planning process, you will begin developing a tool that will synchronize operations at the incident level to ensure that incident operations are conducted in support of incident objectives. The incident action planning process is built on the following phases: 1. understand the situation; 2. establish incident objectives; 3. develop the plan; 4. prepare and disseminate the plan; and 5. execute, evaluate, and revise the plan. During each phase, you will prepare a well-organized and thoughtful summary/narrative consisting of two sections. One section will consist of a one-to-two-page narrative for each phase of the IAP. In this assignment, your narrative will consist of your evaluation of Phase I of the IAP. Phase I covers the operational period, which is the period of time scheduled for executing a given set of operational actions as specified in the IAP. Chapter 4 of the textbook National incident management system: Principles and practice (pp. 45-46) defines the Operational Period and the specific incident mission requirements needed to begin Phase 1. The second section of your summary/narrative will consist of at least three pages in which you address the following: If or when the Finance/Administration Section should be established during an emergency incident; If the emergency incident requires a Finance/Administration section, determine when it should have pre-established agreements, contracts, and a procedural process with local vendors, suppliers, and contractors on equipment and/or supplies that could be required during the emergency; If the emergency incident does not require a Finance/Administration section, determine why it does not need preestablished agreements, contracts, and a procedural process with local vendors, suppliers, and contractors on equipment and/or supplies that could be required during the emergency; and Explain the importance of a budget for fire and emergency medical services (EMS) administration in preparation for emergency incidents For Phase 1, retrieve ICS Form 201: Incident Briefing from the IAP Assignment Documents folder in the course menu on Blackboard and begin entering the data from the background information documents and the scenario you choose. This information and other resources will enable you to complete Phase I of the IAP. Check with your instructor if you are having difficulty with any section of the form. You will choose one event from the different incident scenarios that could occur on Little Columbia Southern Island. Please click here to view the scenarios. The background information will be the same for all five events; however, the emergency event will be different. The five incident scenarios are: fire-related emergency, storm-related emergency, public health-related emergency, environmental-related emergency, and mass shooter incident. In addition, you are provided photos of various places on Little Columbia Southern Island to help you evaluate the conditions for the scenario you choose. MSE 5201, Advanced Fire Administration 3 Click here for access to bay homes photos. Click here for a map of the island. Click here for northern side of island photos. Click here for middle of island home photos. Click here for south side of island photos. Click here for unimproved roads photos. Refer to these documents for this assignment as well as all other assignments when completing the IAP. Use any available resource that your community has available as if it were Columbia County. For instance, if your county has 23 fire apparatus equipment, then make them available if needed for Columbia County, or if your county has a mobile medical clinic and it is part of your plan then list it on the form. These resources will be listed on ICS Form 201. The purpose of this assignment is for you to apply the concepts and knowledge you learned in this unit to begin writing the IAP. Also, this assignment provides you with the opportunity to use your skills, expertise, and experience to enrich your response. To supplement your discussion and support your writing, you may use information from reputable, reliable journal articles, case studies, scholarly papers, and other sources that you feel are pertinent. You should use at least three sources that can include one or both of your textbooks. All sources used, including the textbook(s), must be referenced; paraphrased and quoted material must have accompanying citations in proper APA style. Both the summary/narrative and the completed ICS Form 202 should be uploaded into the assignment area in Blackboard
Public Health-Related Emergency Scenario Severe Acute Respiratory Syndrome (SARS) One of the island residents returned to the island after being overseas and volunteering in several rural hospitals. During this time, the person was unknowingly carrying Severe Acute Respiratory Syndrome (SARS). The man spoke at several island events during a seven day period and at neighboring humanitarian events throughout Columbia County. He even spoke at a July 4th event on the island where just under a thousand visitors made contact with him during the two-day event to raise money for another humanitarian trip. The next day, he suddenly became ill with shortness of breath, flu-like symptoms, gastrointestinal discomfort, muscle ache, and a cough. Over a two-day period, several more people on the island began  complaining of similar symptoms to include lethargy and a sore throat. There was a small red tide outbreak that causes the same symptoms in many patients. Paramedics from Little Columbia Southern Island Fire Department responded to the emergency and a patient was transported via boat to the closest hospital. As a result of the red tide bloom, many patients believed the symptoms were just that. The local hospital misdiagnosed SARs as the side effects of the red tide bloom and released the patient to return to the island. As a result, the disease spread rapidly throughout the tight-knit community with a total of 12 deaths. M
Background and Scenarios for Incident Action Plan Project Little Columbia Southern Island Physical Attributes and Infrastructure Little Columbia Southern Island is a bridgeless barrier island located off the Southwest Coast of the United States. The nearest municipality is a one hour drive from the Columbia Coastal Marina, which then takes 45 minutes to reach the island by ferry or boat. The water between the mainland and the island is designated as a protected wildlife zone by the U. S. Fish and Game Commission. All boat traffic is limited to 15 mph per hour. The island is approximately seven miles in length and varies between 1/8 and 3/8 miles wide. The length and width of the island changes as currents erode and deposit sand along the shoreline. The only vehicles/equipment on the island are electric golf carts used by the residents, one 1930 jeep used to grade the main road, a Coastal Power & Light truck, one sea plane, and fire department apparatus. There are no commercial stores or facilities on the island, which includes food or other amenities. The governing body of the island is an Advisory Board with one person elected from each district of the island representing 2,724 residents. The island is divided equally into five different districts. The advisory board communicates concerns, problems or issues to the Columbia County Commissioner who represents the island. All Advisory Board and community meetings are held in the Coastal Chapel on the island. Rarely do the island residents attend any of the County Commission meetings due to the time and distance to the meetings held on the mainland. The Advisory Board provides a summary list of the issues and considerations for their County Commissioner to present at various hearings and meetings. The island is divided into three distinct mindsets. The northern end of the island will not utilize any governmental agency and refuses to have potable water connected to their homes. The middle of the island is made up of rental properties along the coast and bay. The southern part of the island is made up of residents who have a vision for change by developing the infrastructure to include water and sewer from the mainland. The majority of the island is single-family homes with two condominium developments; combined, both condominiums have 300 units. The condominiums on the bay are protected by a sprinkler system that is supplied from a fire pump connected to the island’s only pond. The island has no public use or facilities for public access. The road system consists of unimproved paths and dirt roads which are maintained by the residents. Many of the unimproved paths and dirt roads only allow vehicular access that is limited to the width of a golf cart. The main roadway system that runs the length of the island will accommodate fire apparatus and the island’s utility truck. Residents that live on the bay side have privately owned docks that extend out past the shallow flats for access to their home. Many of those homes are only accessible from the dock and water. There is only one dock that will accommodate the ferry and fire boat from Columbia County Emergency Services. The ferry is mainly used for transporting people and household garbage from the island to the Columbia Coastal Marina. The infrastructure is very limited with Coastal Power & Light providing electricity and the Coastal Telephone Company providing phone services. Cellular phone coverage is limited due to a lack of cellular towers within close range. Potable water is provided by a privately-owned water company (owned by one of the island residents). The privately-owned water company has a deep well that provides water to 10% of the island residents through a 3-inch water main with 1 ½ inch branches. The four fire hydrants located in the southern part of the island are fed from the fire pump. All the homes in the northern section of the island have individual cisterns that rely on rain as their source of water. Some homes have shallow wells and a reverse osmosis desalinization plant that provides water to 38% of the residents and condominiums. Single-family homes are on septic tanks and drain field systems, except the condominiums which has a wastewater treatment system. All parcels of the island are privately owned by the residents and there are 745 platted lots ranging in various sizes from one tenth of an acre to five acres. The majority of the homes and structures have  native vegetation within five feet and no fuel reduction buffers. Several of the residents have pushed for community awareness regarding Firewise principles and a defensible space, keeping wildfire away from homes and structures, but it has been met with resistance. They want the native vegetation to remain in place to have the old coastal look. Part of the concern from those aware of the fire danger are weather patterns and available firefighting resources that would influence the ability to control the fire quickly. Emergency Services Emergency medical services are provided by the Little Columbia Southern Island Fire Department. The fire department has two fulltime career personnel which includes the fire chief and a firefighter/paramedic. Four volunteers from the community provide assistance to the fire department on emergency incidents. The fire department is funded through a non-ad valorem assessment levied on each property and contributions from island residents and visitors during special events held on the island. Law enforcement is provided by the Columbia County Sheriff’s Department. The Little Columbia Southern Island Fire Department was formed after a fatal fire that killed four island residents. The delayed response from Columbia County Emergency Services to the fire occurred after the 9-1-1 call was dropped. The fire was so intense that fire investigators from the State could not determine the cause. Following that fire incident, the island’s Advisory Board met and demanded fire protection. After several meetings with their County Commissioner a solution was proposed to provide limited fire protection and emergency services from the county. The Little Columbia Southern Island Fire Department was able to maintain on-duty status of at least one or more persons 24 hours per day, 7 days a week. In addition, the fire department had to initiate measures to control the emergency while the county provided a full response to the incident, if needed. The Little Columbia Southern Island Fire Department had to also submit a proposed budget for approval during the budgetary process beginning each October 1st. The island’s Advisory Board also serves as the Fire Board with oversight for the fire department. The total budget for the fire department is $220,057.78. Twenty thousand dollars is raised by the volunteers and Advisory Board from the sale of tee-shirts and hats during special events on the island. The fire department is temporarily using one of the rental homes on the island as their station. The station has a small generator which provides power to the radio, refrigerator, and some emergency lights during power outages. Most emergency calls are received by a cellular phone which is carried by the on-duty person at the fire station. Many residents do not trust the Columbia County 9-1-1 Public Address System (PAS) since the communications center dropped the emergency call that resulted in the fatal fire. The fire department utilizes two all-wheel drive pickup trucks converted to fire apparatus and two all-terrain vehicles (ATVs) to access the beach and remote areas of the island. Environmental-Related Emergency Scenario Red Tide Along the coastal area of Little Columbia Southern Island, the largest red tide bloom in more than five decades occurred, killing thousands of fish. Long-term island residents have never seen such a magnitude of devastation to the fish and marine organisms as is occurring with this bloom. As the dead fish and marine organisms begin to wash ashore, many of the residents have begun to develop health issues. According to the Fish and Wildlife Conservation Commission, the Department of Environmental Protection,
and the Columbia Marine Laboratory, this red tide bloom threat is expected to last for three months. A researcher with the Ocean Technology program at the Columbia Marine Laboratory suggested that the phenomenon of red tide blooms has existed for centuries and many times the bloom remains offshore. However, this bloom is impacting the health and safety of residents and commercial fishing for the entire coastal area. The Department of Environmental Protection obtained a sample of the red tide bloom and discovered the bloom is the harmful algal bloom (HAB). As a result, multiple manatees, sea turtles, and bottlenose dolphins are being washed up on the northern side of the island. Columbia County health officials, the Department of Environmental Protection, and the Columbia Marine Laboratory have issued warnings of brevetoxin exposure from the HAB. However, each agency’s warning does not exactly contain the same information. Nonetheless, they all agree that inhalation of aerosolized toxins or the consumption of any fish or marine life in the area may be dangerous to one’s health. They stated clinical symptom signs are respiratory illnesses followed by lethargy and muscle weakness including death. They have ordered a voluntary evacuation; however, residents of the island refuse to leave. The Department of Environmental Protection and health officials began monitoring the potable water from the reverse osmosis desalinization system and found HAB have penetrated the purification semipermeable membrane, allowing the toxin to be disseminated into the potable water. In fact, several residents had complained that the potable water tasted salty at times and county officials refused to investigate the complaints because of it being a private system. Within a week after the red tide bloom began to occur, 45 deaths resulted from people drinking the water and eating shellfish from the bay.

Kinesic Interviewing

 Assignment:  Provide 500 – 600 words for each of the prompts below  –Essay Questions:
1. Describe a brief profile of the mentally disturbed subject that enables the interrogator to classify the subject as possibly being a psychotic. 
2. Write a brief treatment on schizophrenia (as mental illness and as a fractured or shattered personality) and use the four main categories of schizophrenic characteristics in your essay.
3. There is an extensive list of brain diseases in your text. Select one of them. Go on the Internet and research the expected behaviors resulting from the damage they can do to the brain and write two paragraphs describing the behaviors of this brain disease, then relate how an interrogator would identify the disease during interaction with the subject.
4. Describe the action the interrogator should take once he or she has been alerted by the subject’s kinesic behavior to a possible risk of suicide.

supreme court and humane punishment

 
Assignment:  1.Give some examples of the punishments that were in place during the drafting and ratification of the American Constitution. How did these punishments change after the Constitution was put in place?   
2. Contrast the crimes for which the death penalty is made mandatory against the three classes of offenders who are not death-penalty eligible. How would you define “irreparable corruption” from Montgomery v. Louisiana 136 S.Ct. 718 (2016)? Why do you think these distinctions have been put into law? Do you agree with them? Why or why not?
3. Research the case that marked the beginning of the Supreme Court’s capital punishment sentencing reforms and explain what this case held.
 
4. Make a compelling argument for “humane punishment” with the understanding that it has not always been practiced. Include the present constitutionally acceptable forms of punishment that must be carried out in a humane fashion. Include how the United States’ punishment compares to the punishment in several Middle Eastern or African countries.

Union Vs Human Resources

According to Beer et al (1984), human resources management (HRM) has developed as a way to serve workers’ interests, albeit internally within the workplace. This challenges the role of worker advocacy.  Historically, workers’ interests have been served by external representatives from labor unions, and have also been protected through government interventions such as laws and regulations. The purpose of this assignment is to understand the roles of unions and the role of HRM, and examine whether workers have adequate support and protections in the modern workplace. After reading the text chapters for Week One and Week Two and reviewing the resources provided:

  • Explain how unions, human resources management personnel, and government interventions (such as laws and regulations) serve to address worker rights and worker safety.
  • Evaluate whether unions and HRM have unique roles for different groups (i.e., the organization, management, and the workers) or if there are areas of overlap.
  • Assess the following statement, “Workers in the modern workplaces of America are well protected and well supported.” Explain whether you agree or disagree with this statement, based on what you now know about government interventions, unions, HRM, and worker advocacy. Be sure to support your agreement or disagreement with statements of reasoning from your analysis.

The paper must be four to five double-spaced pages in length (excluding the title and reference pages) and formatted according to APA style. You must use at least three scholarly sources (which can be found in the Ashford University Library) other than the textbook to support your claims. Cite your sources in text and on the reference page. For information regarding APA samples and tutorials, visit the Ashford Writing Center, within the Learning Resources tab on the left navigation toolbar, in your online course. In particular, it would be helpful for you to review.

Constitutional Law II Asssingment

Start by reading and following these instructions:
1. Quickly skim the questions or assignment below and the assignment rubric to help you focus. 
2. Read the required chapter(s) of the textbook and any additional recommended resources.  Some answers may require you to do additional research on the Internet or in other reference sources.  Choose your sources carefully.
3. Consider the discussion and the any insights you gained from it.
4. Create your Assignment submission using at least three scholarly references .  Cite your sources using APA style as required. Check your spelling, 500-600 words minimum, all work will be ran through Turn It In.
Assignment:
1. If you are a government employee, can your boss instruct you to post election signs in your yard to support the mayoral candidate of his choosing or risk losing your job if you don’t? Explain your answer in detail.
2. What must a police officer establish in order to successfully challenge a police department regulation as a violation of substantive due process? Do you agree with this process? Why or why not?
3.Identify and describe three kinds of discrimination claims that can be brought under Title VII. Use an example to explain each.
 
4. Do you think police departments should be able to set a maximum weight for officers in order for them to be physically capable of performing their job? Why or why not? If so, what should the maximum weight be for men and women? Should muscle vs. fat be a factor? What about height? Why did you pick the numbers you did? If you think police departments shouldn’t be able to, why do you think this?

situation of Computron Industries

Ratios

Chapter 3 Mini Case
The first part of the case, presented in Chapter 2, discussed the situation of Computron Industries after an expansion program. A large loss occurred in 2016, rather than the expected profit. As a result, its managers, directors, and investors are concerned about the firm’s survival.
Jenny Cochran was brought in as assistant to Computron’s chairman, who had the task of getting the company back into a sound financial position. Cochran must prepare an analysis of where the company is now, what it must do to regain its financial health, and what actions to take. Your assignment is to help her answer the following questions, using the recent and projected financial information shown next. Provide clear explanations, not yes or no answers.
Input Data:
2015 2016 2017E
Bart Kreps: Projections
Year-end common stock price $8.50 $6.00 $12.17
Year-end shares outstanding 100,000 100,000 250,000
Tax rate 40% 40% 40%
Lease payments $40,000 $40,000 $40,000
Balance Sheets
Assets 2015 2016 2017E
Cash and equivalents $9,000 $7,282 $14,000
Short-term investments $48,600 $20,000 $71,632
Accounts receivable $351,200 $632,160 $878,000
Inventories $715,200 $1,287,360 $1,716,480
Total current assets $1,124,000 $1,946,802 $2,680,112
Gross Fixed Assets $491,000 $1,202,950 $1,220,000
Less Accumulated Dep. $146,200 $263,160 $383,160
Net Fixed Assets $344,800 $939,790 $836,840
Total Assets $1,468,800 $2,886,592 $3,516,952
Liabilities and equity
Accounts payable $145,600 $324,000 $359,800
Notes payable $200,000 $720,000 $300,000
Accruals $136,000 $284,960 $380,000
Total current liabilities $481,600 $1,328,960 $1,039,800
Long-term bonds $323,432 $1,000,000 $500,000
Total liabilities $805,032 $2,328,960 $1,539,800
Common stock (100,000 shares) $460,000 $460,000 $1,680,936
Retained earnings $203,768 $97,632 $296,216
Total common equity $663,768 $557,632 $1,977,152
Total liabilities and equity $1,468,800 $2,886,592 $3,516,952
Income Statements
2015 2016 2017E
Net sales $3,432,000 $5,834,400 $7,035,600
Costs of Goods Sold Except Depr. $2,864,000 $4,980,000 $5,800,000
Depreciation and amortization $18,900 $116,960 $120,000
Other Expenses $340,000 $720,000 $612,960
Total Operating Cost $3,222,900 $5,816,960 $6,532,960
Earnings before interest and taxes (EBIT) $209,100 $17,440 $502,640
Less interest $62,500 $176,000 $80,000
Pre-tax earnings $146,600 ($158,560) $422,640
Taxes (40%) $58,640 ($63,424) $169,056
Net Income before preferred dividends $87,960 ($95,136) $253,584
EPS $0.880 ($0.951) $1.014
DPS $0.220 $0.110 $0.220
Book Value Per Share $6.638 $5.576 $7.909
Cochran must prepare an analysis of where the company is now, what it must do to regain its financial health, and what actions should be taken. Your assignment is to help her answer the following questions. Provide clear explanations, not yes or no answers.
a. Why are ratios useful? What three groups use ratio analysis and for what reasons?
b. (1.) Calculate the current and quick ratios based on the projected balance sheet and income statement data.
Calculated Data: Ratios Industry
2015 2016 2017E Average
Liquidity ratios
Current Ratio
Bart Kreps: Current Assets divided by Current Liabilities.
Quick Ratio
Bart Kreps: Current Assets minus Inventories divided by Current Liabilities.
(2.) What can you say about the company’s liquidity position? We often think of ratios as being useful (1) to managers to help run the business, (2) to bankers for credit analysis, and (3) to stockholders for stock valuation. Would these different types of analysts have an equal interest in the liquidity ratios?
c. Calculate the inventory turnover, days sales outstanding (DSO), fixed assets turnover, operating capital requirement, and total assets turnover. How does Computron’s utilization of assets stack up against other firms in its industry?
Industry
Asset Management ratios 2015 2016 2017E Average
Inventory Turnover
Bart Kreps: COGS divided by Inventories.
6.10
Days Sales Outstanding
Bart Kreps: Accounts Receivable divided by average daily sales.
32.00
Fixed Asset Turnover
Bart Kreps: Sales divided by Net Fixed Assets.
7.00
Total Asset Turnover
Bart Kreps: Sales divided by Total Assets.
2.50
d. Calculate the debt ratio, liabilities-to-assets ratio, times-interest-earned, and EBITDA coverage ratios. How does Computron compare with the industry with respect to financial leverage? What can you conclude from these ratios?
Industry
Debt Management ratios 2015 2016 2017E Average
Debt Ratio 32.0%
Liabilities-to-assets Ratio
Bart Kreps: Total Debt divided by Total Assets.
50.0%
Times Interest Earned
Bart Kreps: EBIT divided by interest charges.
6.20
EBITDA Coverage Ratio
Bart Kreps: (EBITDA + Lease Payments) / (Interest + Loan Payments + Lease Payments)
8.00
e. Calculate the profit margin, basic earning power (BEP), return on assets (ROA), and return on equity (ROE). What can you say about these ratios?
Industry
Profitability ratios 2015 2016 2017E Average
Net Profit Margin
Bart Kreps: Net Income divided by sales.
3.6%
Operating Margin
Bart Kreps: EBIT divided by sales.
7.1%
Gross Profit Margin
Bart Kreps: Net Income divided by (Sales – COGS).
15.5%
Basic Earning Power
Bart Kreps: EBIT divided by Total Assets.
17.8%
Return on Assets
Bart Kreps: Net Income divided by Total Assets.
9.0%
Return on Equity
Bart Kreps: Net Income divided by Common Equity.
18.0%
f. Calculate the price/earnings ratio, price/cash flow ratio, and market/book ratio. Do these ratios indicate that investors are expected to have a high or low opinion of the company?
Industry
Market Value ratios 2015 2016 2017E Average
Price-to Earnings Ratio
Bart Kreps: Price per share divided by Earnings Per Share.
14.20
Price-to-Cash Flow Ratio
Bart Kreps: P/CF ratio is calculated by dividing the price by the net cash flow per share.
7.60
Market-to-Book Ratio
Bart Kreps: Market Price per share divided by Book value per share.
2.90
Book Value Per Share
Bart Kreps: Common Equity divided by shares outstanding.
na
g. Perform a common size analysis and percent change analysis. What do these analyses tell you about Computron?
See the worksheet with the TAB “Common Size and % Change”
h. Use the extended DuPont equation to provide a summary and overview of Computron’s projected financial condition. What are the firm’s major strengths and weaknesses?
DuPont Analysis ROE = P.M. X T.A.T.O. X Equity Multiplier
Computron 2015
Computron 2016
Computron 2017E
Industry Average 18.00% 0.0% 2.5 2.00
i. What are some potential problems and limitations of financial ratio analysis?
j. What are some qualitative factors analysts should consider when evaluating a company’s likely future financial performance?

Common Size and % Change

Common Size Statements
Balance Sheets 2015 2016 2017E Industry
Assets
Bart Kreps: Percentage of Total Assets.
Cash and equivalents 0.3%
Short-term investments 0.3%
Accounts receivable 22.4%
Inventories 41.2%
Total Current Assets 64.1%
Net Fixed Assets 35.9%
Total Assets 100.0% 100.0% 100.0% 100.0%
Liabilities and equity
Bart Kreps: Percentage of Total Liabilities and Equity.
Accounts payable 11.9%
Notes payable 2.4%
Accruals 9.5%
Total current liabilities 23.7%
Long-term bonds 26.3%
Total common equity 50.0%
Total liabilities and equity 100.0% 100.0% 100.0% 100.0%
Income Statements 2015 2016 2017E Industry
Net sales
Bart Kreps: Percentage of Net Sales.
100.0%
COGS except depr. 84.5%
Depreciation 4.0%
Other Expenses 4.4%
EBIT 7.1%
Less interest 1.1%
Pre-tax earnings 5.9%
Taxes (40%) 2.4%
Net Income before preferred dividends 3.6%
Percentage Change Analysis
Balance Sheets 2015 2016 2017E
Assets
Cash and equivalents 0%
Short-term investments 0%
Accounts receivable 0%
Inventories 0%
Total Current Assets 0%
Net Fixed Assets 0%
Total Assets 0%
Liabilities and equity
Accounts payable 0%
Notes payable 0%
Accruals 0%
Total current liabilities 0%
Long-term bonds 0%
Total common equity 0%
Total liabilities and equity 0%
Income Statements 2015 2016 2017E
Net sales 0%
Costs of Goods Sold 0%
Depreciation 0%
Other Expenses 0%
EBIT 0%
Less interest 0%
Pre-tax earnings 0%
Taxes (40%) 0%
Net Income before preferred dividends 0%

Common Size Analysis and Percent Change Analysis In common size analysis, all income statement items are divided by sales, and all balance sheet items are divided by total assets. In percent change analysis, all items are expressed as a percent change from the first year, called the base year, of the analysis.

Financial Accounting – Prof Linda Pinc

Solution 7/16/15
Chapter: 3
Problem: 15
Joshua & White Technologies: December 31 Balance Sheets
(Thousands of Dollars)
Assets 2016 2015
Cash and cash equivalents $21,000 $20,000
Short-term investments 3,759 3,240
Accounts Receivable 52,500 48,000
Inventories 84,000 56,000
Total current assets $161,259 $127,240
Net fixed assets 218,400 200,000
Total assets $379,659 $327,240
Liabilities and equity
Accounts payable $33,600 $32,000
Accruals 12,600 12,000
Notes payable 19,929 6,480
Total current liabilities $66,129 $50,480
Long-term debt 67,662 58,320
Total liabilities $133,791 $108,800
Common stock 183,793 178,440
Retained Earnings 62,075 40,000
Total common equity $245,868 $218,440
Total liabilities and equity $379,659 $327,240
Joshua & White Technologies December 31 Income Statements
(Thousands of Dollars)
2016 2015
Sales $420,000 $400,000
COGS except excluding depr. and amort. 300,000 298,000
Depreciation and Amortization 19,660 18,000
Other operating expenses 27,600 22,000
EBIT $72,740 $62,000
Interest Expense 5,740 4,460
EBT $67,000 $57,540
Taxes (40%) 26,800 23,016
Net Income
Michael C. Ehrhardt: Due to rounding, the numbers calculated in the Chapter 2 problem may differ slightly from these.
$40,200 $34,524
Common dividends $18,125 $17,262
Addition to retained earnings $22,075 $17,262
Other Data 2016 2015
Year-end Stock Price $90.00 $96.00
# of shares (Thousands) 4,052 4,000
Lease payment (Thousands of Dollars) $20,000 $20,000
Sinking fund payment (Thousands of Dollars) $5,000 $5,000
Ratio Analysis 2016 2015 Industry Avg
Liquidity Ratios
Current Ratio 2.58
Quick Ratio 1.53
Asset Management Ratios
Inventory Turnover (Total COGS/Inventories) 7.69
Days Sales Outstanding 47.45
Fixed Assets Turnover 2.04
Total Assets Turnover 1.23
Debt Management Ratios
Debt Ratio (Total debt-to-assets) 20.0%
Liabilities-to-assets ratio 32.1%
Times-interest-earned ratio 15.33
EBITDA coverage ratio 4.18
Profitability Ratios
Profit Margin 8.86%
Basic Earning Power 19.48%
Return on Assets 10.93%
Return on Equity 16.10%
Market Value Ratios
Earnings per share NA
Price-to-earnings ratio 10.65
Cash flow per share NA
Price-to-cash flow ratio 7.11
Book Value per share NA
Market-to-book ratio 1.72
a. Has Joshua & White’s liquidity position improved or worsened? Explain.
b. Has Joshua & White’s ability to manage its assets improved or worsened? Explain.
c. How has Joshua & White’s profitability changed during the last year?
d. Perform an extended Du Pont analysis for Joshua & White for 2008 and 2009.
ROE = PM x TA Turnover x Equity Multiplier
2016
2015
e. Perform a common size analysis. What has happened to the composition
(that is, percentage in each category) of assets and liabilities?
Common Size Balance Sheets
Assets 2016 2015
Cash and cash equivalents
Short-term investments
Accounts Receivable
Inventories
Total current assets
Net fixed assets
Total assets
Liabilities and equity 2016 2015
Accounts payable
Accruals
Notes payable
Total current liabilities
Long-term debt
Total liabilities
Common stock
Retained Earnings
Total common equity
Total liabilities and equity
Common Size Income Statements 2016 2015
Sales
COGS except excluding depr. and amort.
Depreciation and Amortization
Other operating expenses
EBIT
Interest Expense
EBT
Taxes (40%)
Net Income
f. Perform a percent change analysis. What does this tell you about the change in profitability
and asset utilization?
Percent Change Balance Sheets Base
Assets 2016 2015
Cash and cash equivalents
Short-term investments
Accounts Receivable
Inventories
Total current assets
Net fixed assets
Total assets
Base
Liabilities and equity 2016 2015
Accounts payable
Accruals
Notes payable
Total current liabilities
Long-term debt
Total liabilities
Common stock
Retained Earnings
Total common equity
Total liabilities and equity
Base
Percent Change Income Statements 2016 2015
Sales
COGS except excluding depr. and amort.
Depreciation and Amortization
Other operating expenses
EBIT
Interest Expense
EBT
Taxes (40%)
Net Income

Build a Model

Build a Model

Solution 7/16/15
Chapter: 2
Problem: 15
a. Using the financial statements shown below, calculate net operating working capital, total net operating capital, net operating profit after taxes, free cash flow, and return on invested capital for the most recent year.
Lan & Chen Technologies: Income Statements for Year Ending December 31
(Thousands of Dollars) 2016 2015
Sales $945,000 $900,000
Expenses excluding depreciation and amortization 812,700 774,000
EBITDA $132,300 $126,000
Depreciation and amortization 33,100 31,500
EBIT $99,200 $94,500
Interest Expense 10,470 8,600
EBT $88,730 $85,900
Taxes (40%) 35,492 34,360
Net income $53,238 $51,540
Common dividends $43,300 $41,230
Addition to retained earnings $9,938 $10,310
Lan & Chen Technologies: December 31 Balance Sheets
(Thousands of Dollars)
Assets 2016 2015
Cash and cash equivalents $47,250 $45,000
Short-term investments 3,800 3,600
Accounts Receivable 283,500 270,000
Inventories 141,750 135,000
Total current assets $476,300 $453,600
Net fixed assets 330,750 315,000
Total assets $807,050 $768,600
Liabilities and equity
Accounts payable $94,500 $90,000
Accruals 47,250 45,000
Notes payable 26,262 9,000
Total current liabilities $168,012 $144,000
Long-term debt 94,500 90,000
Total liabilities $262,512 $234,000
Common stock 444,600 444,600
Retained Earnings 99,938 90,000
Total common equity $544,538 $534,600
Total liabilities and equity $807,050 $768,600
Key Input Data
Tax rate 40%
Net operating working capital
2016 NOWC = Operating current assets Operating current liabilities
2016 NOWC = Kenneth D. Jackson: Short-Term Investments are not part of current operating assets
Kenneth D. Jackson: Notes Payable are not part of current operating liabilities 2016 NOWC =
2015 NOWC = Operating current assets Operating current liabilities
2015 NOWC =
2015 NOWC =
Total net operating capital
2016 TOC = NOWC + Fixed assets
2016 TOC = +
2016 TOC =
2015 TOC = NOWC + Fixed assets
2015 TOC = +
2015 TOC =
Investment in total net operating capital
2016 2015
2016 Inv. In TOC = TOC TOC
2016 Inv. In TOC =
2016 Inv. In TOC =
Net operating profit after taxes
2016 NOPAT = EBIT x ( 1 – T )
2016 NOPAT = x
2016 NOPAT =
Free cash flow
2016 FCF = NOPAT Net investment in operating capital
2016 FCF =
Michael C. Ehrhardt: Change in total net operating capital (TOC) from the previous year to the current year. 2016 FCF =
Return on invested capital
2016 ROIC = NOPAT / Total net operating capital
2016 ROIC = /
2016 ROIC =
b. Assume that there were 15 million shares outstanding at the end of the year, the year-end closing stock price was $65 per share, and the after-tax cost of capital was 8%. Calculate EVA and MVA for the most recent year.
Additional Input Data
Stock price per share $65.00
# of shares (in thousands) 15,000
After-tax cost of capital 8.0%
Market Value Added
MVA = Stock price x # of shares Total common equity
MVA = x
MVA =
MVA =
Economic Value Added
EVA = NOPAT (Operating Capital x After-tax cost of capital)
EVA = x
EVA =
EVA =