1) The Chester Company has just purchased $40,900,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $4,090,000. What will the book value of this purchase (exclude all other plant and equipment) be after its third year of use? (Use FASB GAAP)Select: 1[removed]$33,538,000[removed]$35,446,667[removed]$29,448,000[removed]$32,720,0002) What is the Quick Ratio of Chester?Select: 1[removed]1.39[removed]1.61[removed].62[removed].723) Digby has a ROS of 0.09 (ROS = Net income/Sales). That means:Select: 1[removed]There are sales of $9 for every dollar of profit.[removed]There is a 9% profit on each dollar of sales.[removed]There are sales of $91 for every dollar of profit.[removed]For every $9 of sales there is a profit of 1%.4) Midyear on July 31st, the Baldwin Corporation’s balance sheet reported: Total Liabilities of $103.453 million Cash of $8.040 million Total Assets of $172.520 million Total Common Stock of $5.080 million. What were the Baldwin Corporation’s retained earnings?Select: 1[removed]$74.147 million[removed]$63.987 million[removed]$72.027 million[removed]$82.187 million5) Review the Inquirer to determine Baldwin’s current strategy. How will they seek a competitive advantage? From the following list, select the top five sources of competitive advantage that Baldwin would be most likely to pursue.Select: 5[removed]Seek high plant utilization, even if it risks occasional small stockouts[removed]Increase demand through TQM initiatives[removed]Add additional products[removed]Seek high automation levels[removed]Offer attractive credit terms[removed]Seek the lowest price in their target market while maintaining a competitive contribution margin[removed]Reduce cost of goods through TQM initiatives[removed]Seek excellent product designs, high awareness, and high accessibility[removed]Accept lower plant utilization and higher capacities to insure sufficient capacity is available to meet demand[removed]Reduce labor costs through training and recruitment6) Rank the following companies from high to low cumulative profit, (in descending order, 1=highest, 4=lowest).Rank in order from 1 to 4[removed] Chester[removed] Baldwin[removed] Andrews[removed] Digby7) Which description best fits Chester in your industry? For clarity: – A differentiator competes through good designs, high awareness, and easy accessibility. – A cost leader competes on price by reducing costs and passing the savings to customers. – A broad player competes in all parts of the market. – A niche player competes in selected parts of the market. Which of these four statements best describes this competitor?Select: 1[removed]Chester is a niche cost leader[removed]Chester is a broad differentiator[removed]Chester is a broad cost leader[removed]Chester is a niche differentiator8) If Baldwin issued 1000 shares of common stock at last year’s end price, the effect on the balance sheet would be:Select: 1[removed]Retained earnings would increase by $4,804[removed]Retained earnings would increase by $48,039[removed]Equity would decrease by $4,804[removed]Equity would increase by $48,039
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