Question
5)Rust Pipe Co. was established in 1994. Four years later, the company went public. At that time, Robert Rust, the original owner, decided to establish two classes of stock. The first represents Class A founders’ stock and is entitled to ten votes per share. The normally traded common stock, designated as Class B, is entitled to one vote per share. In late 2010, Mr. Stone, an investor, was considering purchasing shares in Rust Pipe Co. While he knew the existence of founders’ shares were not often present in other companies, he decided to buy the shares anyway because of a new technology Rust Pipe had developed to improve the flow of liquids through pipes. Of the 1,800,000 total shares currently outstanding, the original founder’s family owns 52,525 shares. What is the percentage of the founder’s family votes to Class B votes? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Percentage of votes%
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Question
4)Midland Petroleum is holding a stockholders’ meeting next month. Ms. Ramsey is the president of the company and has the support of the existing board of directors. All 13 members of the board are up for reelection. Mr. Clark is a dissident stockholder. He controls proxies for 32,001 shares. Ms. Ramsey and her friends on the board control 52,001 shares. Other stockholders, whose loyalties are unknown, will be voting the remaining 30,998 shares. The company uses cumulative voting.
a.How many directors can Mr. Clark be sure of electing? (Do not round intermediate calculations. Round down your answer to the nearest whole number.)
Number of directors b.How many directors can Ms. Ramsey and her friends be sure of electing? (Do not round intermediate calculations. Round down your answer to the nearest whole number.)
Number of directors c-1.How many directors could Mr. Clark elect if he obtains all the proxies for the uncommitted votes? (Do not round intermediate calculations. Round down your answer to the nearest whole number.)
Number of directors c-2.Will he control the board? YesNo d.If nine directors were to be elected, and Ms. Ramsey and her friends had 60,001 shares and Mr. Clark had 40,001 shares plus half the uncommitted votes, how many directors could Mr. Clark elect?(Do not round intermediate calculations. Round down your answer to the nearest whole number.)
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Question
1)Katie Homes and Garden Co. has 14,400,000 shares outstanding. The stock is currently selling at $74 per share. If an unfriendly outside group acquired 15 percent of the shares, existing stockholders will be able to buy new shares at 20 percent below the currently existing stock price. a.How many shares must the unfriendly outside group acquire for the poison pill to go into effect? (Do not round intermediate calculations.) Number of shares b.What will be the new purchase price for the existing stockholders? (Do not round intermediate calculations. Round your answer to 2 decimal places.) New purchase price$
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Question
Company X sells on a 1/25, net 60, basis. Customer Y buys goods with an invoice of $5,000.
| a. | How much can company Y deduct from the bill if it pays on day 25? |
| b. | How many extra days of credit can company Y receive if it passes up the cash discount? |
| c. | What is the effective annual rate of interest if Y pays on the due date rather than day 25? (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) |
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