Complete the problem.

$$\begin{array}{|c| c c c c c c c |c|}\hline \small \textbf{Total} &\small \textbf{(Selling Price per Share} & \times & \small\textbf{Number of Shares} & - & \small\textbf{Commission)}& =& \small\textbf{Net Sale} &\small \textbf{Amount of}\\ \small\textbf{Paid} & & & & & & & &\small\textbf{Profit or Loss}\\ \hline \$5925 & (\small \$52 \frac{1}{4} & \times & 100) & - & \$59.60 &=& ? & ?\\ \hline \end{array}$$

What are the three types of business organization?

Solve. Find the cost per mile to the nearest cent.

$$\begin{array}{|c c c c c c c c c c c|} \hline \small\textbf{(Total Daily Cost}& + & \small\textbf{Total Mileage Cost} & +& \small\textbf{Gasoline Cost} & = & \small\textbf{Total Cost)} & \div & \small\textbf{Miles} & = & \small\textbf{Cost per}\\ & & & & & & & &\small\textbf{Driven} & & \small\textbf{Mile}\\ \hline (\$160.00 & + & \$94.00 & + & \$23.89 & = & ?) & \div & 500 & = & ? \\ \hline \end{array}$$

Use the following information to answer the following question: A small business called The Grandmother Calendar Company began selling personalized photo calendar kits. The kits were a hit, and sales soon sharply exceeded forecasts. The rush of orders created a huge backlog, so the company leased more space and expanded capacity; but it still could not keep up with demand. Equipment failed from overuse and quality suffered. Working capital was drained to expand production, and, at the same time, payments from customers were often delayed until the product was shipped. Unable to deliver on orders, the company became so strapped for cash that employee paychecks began to bounce. Finally, out of cash, the company ceased operations entirely three years later.

The Grandmother Calendar Company clearly had a cash flow problem. In the context of the cash flow analysis we developed in Chapter 2, what was the impact of customers not paying until orders were shipped?

Liquid nitrogen, which is used in many physics research labs, can present a safety hazard if a large quantity evaporates in a confined space. The resulting nitrogen gas reduces the oxygen concentration, creating the risk of asphyxiation. Suppose $1.00 \mathrm{~L}$ of liquid nitrogen $\left(\rho=808 \mathrm{~kg} / \mathrm{m}^3\right)$ evaporates and comes into equilibrium with the air at $21.0^{\circ} \mathrm{C}$ and $101 \mathrm{kPa}$. How much volume will it occupy?

In physics it is shown that the height s of a ball thrown straight up with an initial speed of 96 ft/sec from a rooftop 112 feet high is $s=s(t)=-16 t^{2}+96 t+112$ where t is the elapsed time that the ball is in the air. The ball misses the rooftop on its way down and eventually strikes the ground. When does the ball strike the ground? That is, how long is the ball in the air?

In physics, it is established that the acceleration due to gravity, g $\left(in\ \mathrm{m} / \mathrm{sec}^{2}\right),$ at a height h meters above sea level is given by $g(h)=\frac{3.99 \times 10^{14}}{\left(6.374 \times 10^{6}+h\right)^{2}}$ where $6.374 \times 10^{6}$ is the radius of Earth in meters. Solve g(h)=0. How do you interpret your answer?

A study reported in the Journal of Small Business Management concluded that selfemployed individuals do not experience higher job satisfaction than individuals who are not self-employed. In this study, job satisfaction is measured using 18 items, each of which is rated using a Likert-type scale with 1–5 response options ranging from strong agreement to strong disagreement. A higher score on this scale indicates a higher degree of job satisfaction. The sum of the ratings for the 18 items, ranging from 18–90, is used as the measure of job satisfaction. Suppose that this approach was used to measure the job satisfaction for lawyers, physical therapists, cabinetmakers, and systems analysts. The results obtained for a sample of 10 individuals from each profession follow.

$$\begin{matrix} \text{Lawyer} & \text{Physical Therapist} & \text{Cabinetmaker} & \text{Systems Analyst}\\ \hline \text{44} & \text{55} & \text{54} & \text{44}\\ \text{42} & \text{78} & \text{65} & \text{73}\\ \text{74} & \text{80} & \text{79} & \text{71}\\ \text{42} & \text{86} & \text{69} & \text{60}\\ \text{53} & \text{60} & \text{79} & \text{64}\\ \text{50} & \text{59} & \text{64} & \text{66}\\ \text{45} & \text{62} & \text{59} & \text{41}\\ \text{48} & \text{52} & \text{78} & \text{55}\\ \text{64} & \text{55} & \text{84} & \text{76}\\ \text{38} & \text{50} & \text{60} & \text{62}\\ \end{matrix}$$

At the $\alpha =$ .05 level of significance, test for any difference in the job satisfaction among the four professions.

A $3$ lb physics book rests on an ordinary scale that is placed on a horizontal table. The reaction force to the downward $3 \mathrm{lb}$ force on the book is
A. an upward $3 \mathrm{lb}$ force on the scale due to the table.
B. an upward $3 \mathrm{lb}$ force on the book due to the scale.
C. an upward $3 \mathrm{lb}$ force on the table due to the floor.
D. an upward $3 \mathrm{lb}$ force on the earth due to the book.

Estimate how many 30 lb bags of mulch an average student in your physics class can load into the bed of a pickup truck in 5.0 min. The truck bed is 4.0 ft off the ground. If you assume that the magnitude of the work done on each bag by the student equals the magnitude of the work done on the bag by gravity when the bag is lifted into the truck, what is the average power output of the student? Express your result in watts and in horsepower.

Heisey Company is a very profitable small business. It has not, however, given much consideration to internal control. For example, in an attempt to keep clerical and office expenses to a minimum, the company has combined the jobs of cashier and bookkeeper. As a result, Terry Baden handles all cash receipts, keeps the accounting records, and prepares the monthly bank reconciliations.

The balance per the bank statement on October 31, 2014, was $18,380. Outstanding checks were: No. 62 for$140.75, No. 183 for $180, No. 284 for$253.25, No. 862 for $190.71, No. 863 for$226.80, and No. 864 for $165.28. Included with the statement was a credit memorandum of$185 indicating the collection of a note receivable for Heisey Company by the bank on October 25. This memorandum has not been recorded by Heisey.

The company’s ledger showed one Cash account with a balance of $21,877.72. The balance included undeposited cash on hand. Because of the lack of internal controls, Terry took for personal use all of the undeposited receipts in excess of$3,795.51. He then prepared the following bank reconciliation in an effort to conceal his theft of cash.

$$\begin{array}{lrr} \text{Cash balance per books, October 31}&&\text{\$\hspace{1pt}21,877.72}\\ \text{Add: Outstanding checks}\\ \qquad\text{No. 862}&\text{\$\hspace{1pt}190.71}\\ \qquad\text{No. 863}&\text{226.80}\\ \qquad\text{No. 864}&\underline{\text{\hspace{5pt}165.28}}&\underline{\text{\hspace{18pt}482.79}}\\ &&\text{22,360.51}\\ \text{Less: Undeposited receipts}&&\underline{\text{\hspace{11pt}3,795.51}}\\ \text{Unadjusted balance per bank, October 31}&&\text{18,565.00}\\ \text{Less: Bank credit memorandum}&&\underline{\text{\hspace{19pt}185.00}}\\ \text{Cash balance per bank statement, October 31}&&\underline{\underline{\text{\$\hspace{1pt}18,380.00}}}\\ \end{array}$$

Instructions

(b) Indicate the three ways that Terry attempted to conceal the theft and the dollar amount involved in each method.

Your small remodeling business has two work vehicles. One is a small passenger car used for job site visits and for other general business purposes. The other is a heavy truck used to haul equipment. The car gets 25 miles per gallon (mpg). The truck gets 10 mpg. You want to improve gas mileage to save money, and you have enough money to upgrade one vehicle. The upgrade cost will be the same for both vehicles. An upgraded car will get $40 \mathrm{mpg}$; an upgraded truck will get 12.5 mpg. The cost of gasoline is 2.65 per gallon. Assuming an upgrade is a good idea in the first place, which one should you upgrade to? Both vehicles are driven by 12,000 miles per year.

The change in the size of businesses in a certain Canadian city from one year to the next can be described by a Markov chain. The businesses are classified into three categories based on size: small (2-10 employees), medium (11-43 employees), and large (44 or more employees). The transition matrix for a 1-year period is given below.

$$\begin{array}{l} \\ Small \\ Medium \\ Large \end{array} \left[\begin{array}{ccc} \text { Small } & \text { Medium } & \text { Large } \\ 0.9216 & 0.0780 & 0.0004 \\ 0.0460 & 0.8959 & 0.0581 \\ 0.0003 & 0.0301 & 0.9696 \end{array}\right]$$

Suppose that in 2015, there were 2094 small, 2363 medium, and 2378 large businesses. Based on this model, find the number of businesses of each type that would be expected in each of the following years. (a) 2016 (b) 2017 (c) Write the transition matrix for a 2-year period. Based on your answer to part (c), what percent of medium businesses are in each of the following categories after 2 years? (d) Small businesses (e) Large businesses.

Presented below are five independent situations.

(e) Jack Yaeger has developed a low-cost GPS device that can be implanted into pets so that they can be easily located when lost. He would like to build a small manufacturing facility to make the devices and then sell them to veterinarians across the country. Jack has no savings or personal assets. He wants to maintain control over the business.

Instructions

In each case, explain what form of organization the business is likely to take—sole proprietorship, partnership, or corporation. Give reasons for your choice.