CORPORATE FINANCE - Minicase Essay Example | Topics and Well Written Essays - 1500 words

CORPORATE FINANCE - Minicase - Essay Example D0 = 2.00 2.12 2.247 2.382 1.88 1.76 1.65 . . . (2) What is the firm's current stock price (Ehrhardt & Brigham, 2006) = = = = $30.29. (3) What is the stock's expected value 1 year from now (Ehrhardt & Brigham, 2006) = = = = $32.10. (4) What are the expected dividend yield, the capital gains yield, and the total return during the first year (Ehrhardt & Brigham, 2006) Total return = 13.0% Dividend yield = $2.12/$30.29 = 7.0% Capital gains yield = 6.0% The dividend yield in the first year is 10 percent, while the capital gains yield is 6 percent. e. Now assume that the stock is currently selling at $30.29. What is the expected rate of return on the stock (Ehrhardt & Brigham, 2006) s= s= $2.12/$30.29 + 0.060 = 0.070 + 0.060 = 13%. f. What would the stock price be if its dividends were expected to have zero growth (Ehrhardt & Brigham, 2006) 0 1 2 3 | | | | 2.00 2.00 2.00 1.77 1.57 1.39 . . . P0 = 15.38 P0 = PMT/r = $2.00/0.13 = $15.38. g. Now assume that Temp Force is expected to experience supernormal growth of 30% for the next 3 years, then to return to its long-run constant growth rate of 6%. What is the stock's value under these conditions What is its expected dividend yield and capital gains yield in Year 1 In Year 4 (Ehrhardt & Brigham, 2006) 0 1 2 3 4 | | | |...What is the required rate of return on the firm's stock (Ehrhardt & Brigham, 2006) g. Now assume that Temp Force is expected to experience supernormal growth of 30% for the next 3 years, then to return to its long-run constant growth rate of 6%. What is the stock's value under these conditions What is its expected dividend yield and capital gains yield in Year 1 In Year 4 (Ehrhardt & Brigham, 2006) The dividend yield in year 1 is 4.80 percent, and the capital gains yield is 8.2 percent. After year 3, the stock becomes a constant growth stock, with g = capital gains yield = 6.0% and dividend yield = 13.0% - 6.0% = 7.0%. h. Is the stock price based more on long-term or short-term expectations Answer this by finding the percentage of Temp Force's current stock price based on dividends expected more than 3 years in the future (Ehrhardt & Brigham, 2006). i. Suppose Temp Force is expected to experience zero growth during the first 3 years and then to resume its steady-state growth of 6% in the fourth year. What is the stock's value now What is its expected dividend yield and its capital gains yield in Year 1 In Year 4 (Ehrhardt & Brigham, 2006) j. Finally, assume that Temp Force's earnings and dividends are expected to decline by a constant 6% per year, that is, g = -6%.

Traveler Transportation Essay Example | Topics and Well Written Essays - 1500 words

Traveler Transportation - Essay Example n, reduction of traffic congestion, improvement of the neighborhood quality of life and provision of equity in transportation accessibility oppose the practical goals of sufficient organization of multimodal transportation infrastructure within metropolitan areas. Traveler transportation, having its peculiar features, represents a rather complex field of work for the transportation professional. This paper proposes the insight into the main differences of traveler transportation from the freight one, highlights some of the difficulties arising in the process of traveler transportation planning and discusses the present day issues faced by the professionals in traveler transportation. On the one hand, traveler and freight transportation have much in common. On the other, traveler transportation is more complicated for statistical studies, modeling travel-demand impacts and transport system regulation than freight transportation is. It has some specific features not characteristic with freight transportation. The complexity of travel behavior and recent issues in the field turn traveler transportation planning and modeling into a really challenging task. F. Witlox and B. Van Broeckhoven (2002) in their report on quality attributes in passenger and freight transportation state that there is much similar between the two fields. Comparing the characteristics of the traveling people, their families and aims of trips with the characteristics of the shippers, consignees and goods transported, they find that though the specific characteristics and conditions differ, they play a similar role in decision making and the major factors considered are almost the same: cost, time, flexibility and frequency. They add the comfort factor for passengers, noting that some goods also need very careful or quick transportation. They also distinguish a number of other factors of less importance, such as, for example, tracing and tracking for freight transportation. But in both cases

The Principles Of Classicist And Positivist Criminology Criminology Essay

The Principles Of Classicist And Positivist Criminology Criminology Essay Classicist and positivists do share some principles however it can be said that they oppose each other to an extent. Classicist criminology is an approach which looks at the idea of rational action and free will. This approach was developed in the eighteenth century and early nineteenth century whereby they intended to produce a criminal justice system that was clear and legitimate and was based on everyone being equal. Positivist criminology is founded by the notion of scientific understanding of crime and criminality, the basic concept is based on the idea that behaviour is determined. There are two types of positivism that try to seek the explanation of crime and deviancy and they are biological positivism and psychological positivism. The origins of positivism and the two interrelated developments were from the nineteenth century. This writing will attempt to explain to what extent Classicist and Positivist criminology oppose each other and to explore if they share any similarities with each other. In order to do this, certain factors will be addressed in order to answer this question to see how much they oppose each other and what they share. The factors which will be looked at are where these theories first derived from, human nature of the offender, definition of crime, the focus of analysis, cause of crime, the response to the crime, crime prevention and operation of the criminal justice system. In the eighteenth century many tried to seek the understanding and would question the natural laws of society. Cesare Beccaria had observed the social contract as being selfish. Believing that law should be limited as much as possible also prohibit actions which would increase instead of decreasing crime. Beccaria had examined administration of criminal justice where he had believed the rights of offenders are protected and torture is forbidden. If for example the victim and accused are in different classes the jury should be equally from both classes. Beccarias work was then led on by Jeremy Bentham (1748-1832) he believed in utilitarianism. He also believed that the society was based on the ideas of pleasure and pain. Beccarias principles led to the French code 1791 which classed everyone as not being similar in the court of law i.e. a sane person is different to an insane person. Benthams work was criticised for not seeing criminals as being individuals. Positivism was born. Andre Guerry (1802-1866) examined if poverty was somehow related to crime. Education was also looked at, whether people with learning difficulties were related to crime and deviance. It was also investigated that although crime was higher in wealthy areas the poor were the most to offend. Two strands of scientific research which were attempted to seek explanation for criminal behaviour was biological and psychological. Biological positivism came from the work of Lombroso, whereby he tried to identify different types of individuals. He examined individuals due to their appearances which apparently showed that they were criminals. This was the concept of atavistic criminal. Psychological positivism emerged in England within the criminal justice institutions. Psychological theories were based on the ideas of the process of the mind in order to understand criminal behaviour. The history and development behind Classicism and Positivism show that they opposed each other. This could be down to the fact that Classicists came from a less modernised time to Positivists and thus lacked in the opportunity to be able to investigate such views as they didnt have the sufficient means to do so. In Classicism, human nature is considered as rational, free and governed by self interest. Human beings are seen to be equal in that they make their own decisions and have free will so therefore able to reason. Classicist criminologists would say the nature of the offender is voluntaristic therefore they make actions on their own accord and they are seen as being responsible for them choosing what they do with their time and also responsible for the consequences that may occur due to their actions. Although free will may not exist perfectly, the criminal law is mainly based on its presumed vitality and forms the foundation for penal sanction (Fogel, 1995, pg183) With positivism, human nature is seen as being determined or prone to certain types of behaviour such as biological and social conditioning and differences with the individual. All individual behaviour is a determined result of circumstances. Positivism say human beings have animal nature which is then socialised into the values within society so that the link from criminal to law abiding citizen in a range or degrees of socialisation. Both Classicism and Positivism oppose here. Classicism says that human nature is seen as rational and that human beings have the capacity to equally reason and to be able to make their own choices for example they may steal from a shop because they want to and also aware of it, whereas Positivism is determined due to biological and social circumstances for example a person from a criminal family may also become a criminal due to child rearing methods.. The Definition of Crime for classicism is that which goes against society. It is not an effect against the state but against the individuals of the society. Individuals of the society abide by the social contract therefore a criminal act which goes against that society would be regulated through legislation they concentrate heavily on the act and not its surroundings such as the reasons, circumstances and influences. Classicism has the view which is founded by the Anglo Saxon law that individuals are free to do what they like as long as it is not forbidden by law. It is about law and morality concerning the protection of the social contract. Positivism defines crime using the word deviant as they view crime as violation of legal codes. As something that may be normal behaviour may be a violation of the legal code. However something that is deviant may not be a violation of the legal codes. They take the value of society which can be scientifically taken and from this it is judged as to whether an act is deviant or not. Classicism defines crime as a violation of the social contract whereby they have free will and self interests and for them to violate the law is breaking the social contract. On the other hand positivism define crime as a violation of the legal code, which in some way is similar to classism as they both define crime as breaching the law. The focus of analysis for classicism is based on the criminal act. Therefore it doesnt take into account of the individuals circumstances. So instead of focussing on the individual, they only see what criminal act they have committed and what the best punishment would be in accordance with the law. The main focus would be the criminal act committed. Positivisms focus of analysis focuses on the offender therefore looks at the offenders characteristics, rather than the offenders criminal acts. Offenders can be scientifically monitored and the reasons that lead up to their criminality can be diagnosed and try and be treated or try and be dealt with in some way. It would be the experts job to try and spot the reasons as to why the conditions that leads to criminality in a particular case. Classicism and positivism oppose here as their focus of analysis differ. Classicism looks mainly at the criminal act and how anyone who has committed a crime will be punished based on their actions however positivism focuses on the offender and look at what may have triggered the individual to have turn to deviant and criminal behaviour in the first place. The whole concept of the Causes of crime for the Classicist paradigm is that it links to the question of rational motivation. The cause of crime is said to be due to rationality, individual choice and irrational choice. The consensual majority where there is proper balance due to reason and self interest, the costs of crime outweighs the benefit. Therefore no one should want to commit crime as this would be an irrational calculation. However some occasions there may be have been benefits which were greater than costs and so crime was seen as a rational calculation. Criminality is basically seen as making the wrong choices which violate the law. Individuals are held to blame for their actions. For positivism the cause of crime is a product of the under socialisation of the individual. This can be a result of number of things such as innate genetic or physiological incapacity of the individual to be easily socialised, family background which is in use of socialisation techniques in child rearing practices. Causes of crime are due to pathology, individual deficiency, its not a matter of the individual making their own choice. If a person is from a family which have a criminal member within them then they are considered to be high risk of committing crime. Every criminal is the result of individual, physical and social conditions Classicism and positivism are similar in the sense that they try to identify the causes of crime. However Classicists believe that individuals make their own conscious choices but Positivist believe that individuals subconsciously are led to crime due to their background and other factors and therefore do not commit crime out of choice. Classicisms response to the crime is punishment. The punishment should be proportionate to the crime. for example if a wealthy women walks out of a shop and is found that she has stolen a pen she should be charged with theft, and if another woman who is poor and walks out of the shop with baby food to feed her child she also should be charged with theft. So therefore classicists would assume that both should be punished for their actions no matter what the circumstances are as people are seen as being capable of being able to make their own choice in what they do so therefore should face the consequences of their actions everyones response to crime should be equal. Rather than being focused towards punishment, Positivists response to crime is treatment towards the offenders. Offenders behaviours are analysed in terms of factors which may be beyond the control of the person. So therefore in order to respond to crime is to be able to understand the reasons as to why the offender acted in this behaviour. All offenders are different from each other thus treatment is seen to have to be individualised. So if they are sentenced for a crime it shouldnt be on nature as to which the crime had been committed, it should take into account the diagnosis of the offender and the form of treatment which should be given to the individual. Classicism and Positivism oppose with each other on the response to crime, classicism focuses on punishing the offender for the crime they have committed whereas positivism focuses on trying to give treatment to the offender and reform, both theories response to crime differ. In order to prevent crime, classicism has the idea of deterrence. As Beccaria viewed that punishments should be equal to offences, to defer criminals from re-offending. Jeremy Bentham assumed that society is based on the notions of pain and pleasure. If the crime is committed and the punishment is more painful therefore the amount of pleasure that is received will prevent the crime, this was based on Benthams moral Formula. Bentham believed that condemning someones actions is more useful than physically harming them. Positivism on the other hand tries to diagnose and classify. They have the idea of early intervention. Individuals learn not to offend when they gain self control, those who do offend dont have self control therefore are likely to control. Child rearing is seen to be a important development in having the ability to have self control which was argued by Gottfredson and Hirschi from the control theory. Poor child rearing methods which involve lack of supervision from parents lead to individuals with low self control which then could turn into them becoming offenders in the future. The way classicism and positivism deal with crime prevention is seen as a similarity, even though both approaches are different, they both try to establish a way to reduce crime. Classicism tries to reduce crime with deterrence and Positivism tries to reduce crime with treatment. The classicist way is to punish in order to deter others whereas positivists try to prevent the crime from occurring from the outset. The classical approach on the operation of the criminal justice system is to take a legal-philosophical approach. The criminal justice system looks at just the criminal act. The rule of law says that each violation of law that has been breached should be treated in the same way. The main aim of the legal proceedings is equality where everyone is seen equal in the eyes of the law. Classicism shows the importance of the clarity in giving a offender a sentencing, the offender should receive a sentencing that ensures the pain from the sentence outweighs the gain from the offence. Positivists take a scientific approach. As offenders are all different and individual, they can be somehow measured and classified in some way. Instead of seeing people in terms of equal rights positivist view emphasises difference. Therefore they can be scientifically studied focusing on areas where there is a high crime rate and low social economy. Classicism take a very different approach as to the operation of the criminal justice system as they take a legal philosophical approach whereby the criminal justice system looks at the criminal act instead of the person who actually committed the crime which differs with the notions of positivism as they take a scientific approach and believe all individuals are different and shouldnt be sentenced based on what criminal act they had committed because there may be factors which may have led to their criminality. Classicism and Positivism are both very influential theories that relate to crime and deviance. We see both approaches in dealing with crime in modern times. Punishment, to punish offenders and deter, and reform methods and education to prevent the crime from happening. Classicism exemplifies its notions through the enlightenment and positivism through moral statistics. They both are very different and therefore oppose and differ on many factors though they do share some similarities. To conclude, the main difference between classism and positivism is that classicists look at punishment and positivism looks at treatment and causes of crime. However one of the main similarities between them is that they both look for causes of crime and have ideas in reducing crime but they have very different views in ways to achieve that result. Classicism and positivism oppose each other to quite an extent, they have some similarities however the amount the both oppose is a lot higher.

Boot Camps and Juvenile Crime Essay -- Juvenile Crime Boot Camps Incar

Boot Camps and Juvenile Crime Five years ago, responding to an increase in serious juvenile crime, the state of Maryland initiated one of the nation's largest boot camp programs for teenage criminals. The program, called the Leadership Challenge, quickly became the model for other states. But last week, after reviewing a task force report that documented instances of physical abuse at their camps, Maryland officials appeared on the verge of conceding that the current initiative was a failure. Military-style discipline may work as punishment at juvenile boot camps, but it has not been effective as rehabilitation. The Maryland experience, together with problems in other states, has already led some states to close their boot camps and even to rethink how their penal laws treat young offenders. All in all, it is a remarkable turn of events for an idea that was once greeted as a breakthrough in the fight against juvenile crime There is increasing evidence that boot camps never worked. A national study last year by the Koch Crime Institute, a public policy group in Topeka, Kan., showed that recidivism among boot camp attendees ranged from 64 percent to 75 percent, slightly higher than for youths sentenced to adult prisons. Gerald Wells, a senior research associate at the Koch Institute, said of the report, "The shocking parts are the allegations of abuse, but the more alarming parts are the failures." Research has also shown, according to Mr. Wells and other penal justice experts, that these camps were grounded in a false and unexamined assumption. "People thought boot camps shaped up a lot of servicemen during three wars," Mr. Wells added. "But just because you place someone in a highly structured environment with discipline, does not mean once they get home, and are out of that, they will be model citizens." Boot camps have their roots in the 1970's, with the advent of large, well-organized and extremely violent street gangs. In response to these groups, many states began to imprison more young people. By the 1990's, as the number of repeat juvenile offenders rose to record levels, it became clear that prison sentences were not working. In 1994, nearly 10,000 juveniles were charged with criminal offenses, an all-time high. More than 2,300 of them were charged with murder, compared with fewer than 1,000 in 1980, according to th... ...and they also need to learn respect, self-respect, discipline and a new way of conducting themselves in society," Ms. Townsend said. "Facilities that provide structure and discipline can be run effectively and have a role in our fight after juvenile crime." Many experts disagree, citing the expense of running such programs properly. "It's a budget issue," said Doris Mackenzie, a University of Maryland criminology professor. "They are popular in the public, people feel we should treat these kids tough, and everyone can get onto the bandwagon," she said. "But when it comes to this extra expense of doing the follow-up, we find, the money is not there." In any case, juvenile crime has been falling since 1994, after an overall drop in the nation's juvenile population. This will make it highly unlikely, say political observers, that voters will agree to pay for individualized rehabilitation. Much more likely, they say, is that the 27,000 young people who once went to boot camp each year will instead be sent to prison. As bad as boot camps have proved to be, Mr. Wells added, "once you start incarcerating kids, you have lost. But unfortunately, that is where we seem headed."

Negligance: New Haverford Partnership Essay

Plaintiff 1 is Elizabeth Stroot, a 33 year old graduate student who has suffered from allergies and asthma since childhood. Stroot was a tenant at Haverford apartments. Plaintiff 2 is Joletta Watson, friend and roommate of Elizabeth Stroot and a tenant of Haverford apartments from 1990 to 1994. Defendant is New Haverford Partnership, the owner of Haverford apartments. Facts In August 1992, Elizabeth Stroot and a roommate, Joletta Watson, moved into an apartment on the third floor of Haverford Place. (Case Law) While living in this apartment with Watson, Stroot immediately discovered mold around the windows and bathroom. Upon this discovery, Stroot attempted to remove the mold with bleach, however, the mold keep returning. In addition to the mold, Stroot also discovered leaks in her bedroom ceiling and in the kitchen and bathroom sinks. About a year later, in September 1993, Stroot’s roommate, Watson, moved out and Stroot moved into a one bedroom apartment in a different building within Haverford Place. After moving in, Stroot discovered that the bathroom ceiling in the new apartment also leaked. After living there for a few months, the leaks had caused holes in the drywall and there was a black substance covering the edges of the holes. Whenever the shower was on in the apartment above Stroot’s, black water ran out of the holes. Stroot inf ormed management and some efforts were made to fix the upstairs shower. No repairs were made in Stroot’s apartment. The landlord stated that â€Å"the problem was caused by the upstairs tenants taking â€Å"sloppy† showers.† A few months later, on May 6 1994, Stroot called emergency maintenance because the hold in her bathroom ceiling was expanding and had become very large. It was no longer just a leak; she stated it was â€Å"raining†. Maintenance came to inspect her apartment and said that they would fix her apartment once the problem in the upstairs apartment was resolved. Ten days later, on May 16, 1994, Stroot’s bathroom ceiling collapsed and her bathroom floor flooded with water from the ceiling. The now exposed ceiling and also the debris from the drywall were covered with black, green, orange, and white mold. Stroot stated that the room was  filled with a strong and nauseating odor. Again, Stroot called emergency maintenance and they sta ted that they could not do anything until the following morning. Once morning came, Stroot could not breathe. Stroot contacted her doctor and he recommended that she get an ambulance and go to the hospital. After being released from the hospital that day, Stroot made the decision that she could no longer live at Haverford Place. Due to her suffering from allergies and asthma since childhood, while living at Haverford Place, Stroot was forced to go to the emergency room seven times from asthma attacks. Also, she had spent a total of nine days as an inpatient where she received intravenous steroids twelve times. Stroot incurred medical expense in the amount of $28,000. Stroot sued New Haverford Partnership to recover damages for their negligence in permitting the water leaks and mold to persist in her apartment for the cause of her medical issues. While Watson lived at Haverford Place, during the years of 1990 to 1994, she experienced many of the same issues as Stroot had in her apart ment. During the first few years of Watson’s residency at Haverford Place, she traveled frequently and was not home that often. However, the pipe under her sink burst and her kitchen was flooded with hot water. Maintenance did fix this pipe but the cabinets remained damaged by the water. She also had water issues in her bathroom. There was a gap in her tub between the tiles and the tub. Behind this gap was rotten drywall. Black mold was living behind the toilet, around the sink, on the ceiling and the windows were coated with a gummy substance. Watson attempted to remove the mold several times and it would continue to return. In 1993, Watson no longer traveled and was home more. During this time, Watson started to experience health problems. These problems included frequent headaches, sinus issues, chest pains, body aches, and fatigue. Watson went to he doctor and obtained medicine, however, she did not feel any better until she was no longer living at Haverford Place, six mo nths later. Watson had developed an allergy to Penicillium and suffered from permanent upper respiratory problems due to her exposure to the mold. Procedure The plaintiffs, Stroot and Watson, brought the appeal on three theories of tort liability: 1. Ordinary or common law negligence based on Landlord’s alleged failure to maintain safe and sanitary conditions in the apartments, 2. Negligence based on alleged violations of the New Castle County Code 3, 3. Negligence based on alleged violations of the Landlord Tenant Code. The jury of the trial courts found in favor of the plaintiffs on all three forms of negligence. The plaintiffs also offered testimony from several expert witnesses. The first expert witness is Dr. Yang, a mycologist and microbiologist. After inspecting Haverford Place, he stated that there was excessive and atypical mold growth in the apartment buildings caused by long term leaks. He opined the widespread mold contamination posed a health risk to tenants. The next, Dr. Johnanning, a physician board-certified in environmental and occupational medicine, also inspected and noted similar data from Haverford Place. He took blood samples from the plaintiffs and after analysis, he opined there was a high concentration of toxic mold at Haverford Place and this significantly and permanently increase the severity of Stroot’s asthma. He also st ated that Watson developed an allergy to Penicillium and suffered from permanent upper respiratory problems as a result to her exposure to the mold. Dr. Gordon, a neuropsychologist, another expert witness, studied the mental defects associated with the atypical molds. He evaluated Stroot and came to the conclusion that she suffers from significant cognitive impairment in the areas of attention, concentration, memory and executive functions. He opined these problems were permanent and were a result of her exposure to the mold. Dr. Rose, a physician board certified in pulmonary, occupational and environmental medicine also examined Stroot and opined that she had developed osteopenia as a result of her steroid use while living at Haverford Place. The last expert witness, Michael Lynn, an architect and partner in real estate due diligence firm performed a limited property condition assessment at Haverford Place. He opined that the deferred maintenance on the buildings was excessive and the landlord’s failure to maintain the property was the proximate cause of the unhealthy and unsanitary conditions observed. The jury awarded Stroot $1,000,000 for personal injuries and $5,000 for property damage. Watson was awarded $40,000 for personal injuries. Both Watson and Stroot’s awards were reduced by 22% for their level of contributory negligence. Issue Was New Haverford Partnership liable for negligence? Were the expert  witness’s testimonies reliable? Is the amount of the damage awards appropriate? Were the plaintiff’s partially at fault due to their own negligence? Holding The landlord filed an appeal to the trial court’s outcome with claims of error in the plaintiffs allegations of the three causes of action in tort liability of the landlord, the opinions of the expert witness were deficient in several respects, and that the amounts awarded to Stroot and Watson were excessive. The Supreme Court held that New Haverford Partnership was negligent and the amounts awarded to Stroot and Watson was supported. The Supreme Court affirmed the trial court’s judgment in favor of Stroot and Watson Reasoning There was no error found in the trial court’s decision to allow the plaintiffs to pursue an ordinary, or common law, negligence claim and the jury found the landlord negligent due to failure to maintain the property allowing for unsafe and unsanitary living conditions and breaching the Landlord Tenant Code. The landlord owed the tenants a duty of care and the landlord breached that duty and due and the breach was the proximate cause of the tenant’s injuries. The court finds that the experts’ opinions were within the realm of scientific reliability and that the trial court acted with their realm of discretion in allowing them. In Delaware, the presumption is that a jury verdict is â€Å"correct and just.† The court has the authority to grant a new trial if it believes that the verdict was based upon â€Å"passion, partiality, prejudice, mistake, or misapprehension on the part of the jury.† It also states that a verdict will not be set aside unless it is â€Å"so grossly excessive as to show the Court’s conscience and sense of justice; and unless the injustice of allowing the verdict is clear.† Therefore, given the permanent nature of the Plaintiff’s injuries as well as the physical and emotional suffering that Stroot and Watson will have to endure the remainder of their lives, the court does not find the amount of damage awards to be unreasonable. Case Questions Critical Legal Thinking – What is negligence? Do you think the landlord was negligent in this case? Negligence is the failure to take proper care in doing something. Yes, the landlord was negligent in this case. They were aware of the major water leaks and mold issues and did not do anything to attempt to resolve the issues. With knowing the condition of the apartment buildings, they are required as a landlord to make the proper repairs to insure the buildings have safe and sanitary living conditions for their tenants. They were also aware of these conditions for at least four years. Business Ethics – Did New Haverford Partnership act ethically in this case? Do you think Stroot was partially at fault in this case? No, I do not think New Haverford Partnership acted ethically in this case. Their appeal arguing that the were not negligent, that the expert witnesses didn’t have valid cases and that the damage awards were excessive goes to show that they do not have any sympathy for the damages they have caused and also that they are not responsible for the damages. Howeve r, I do believe Stroot is partially at fault. She continued to live at the apartments after she was aware of the conditions. She knew her health was at risk after her first visit to the Emergency Room. She ended up going an additional six times. Contemporary Business – Do you think the award of damages in this case was appropriate? Why or Why not? I agree with the court’s decision in the amount of award of damages. Stroot and Watson both will have to suffer from mental and physical issues for the remainder of their lives due to the exposure to the mold. They will have recurring medical expenses due to these issues and the amount of the award will allow for payment of their future medical expenses and for personal damages. I do agree with the court’s decision to reduce their awards by 22% for their own negligence. Watson and Stroot both lived in Haverford place for multiple years and were well aware of the issues and condition of the buildings. They chose to cont inue to live there even after the negligence of the landlord was well known after they did not repair the multiple issues they called in. Also, Stroot had to go to the emergency room seven times before she decided not to live at Haverford Place. Citations Cheeseman, Henry. Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues, 7th Edition. Pearson Learning Solutions. (Pg 772-773). New Haverford Partnerships v. Stroot and Watson, No. 549, 1999. Retrieved from http://courts.state.de.us/

Girls Are Better Than Boys

A Famous Place In Our Country Today, Pangkor Island is a popular island destination for local and Singapore holiday makers. It gets extremely busy during school and public holidays. One operator on the island reported that approximately 2000 holidaymakers were left without a place to stay on the island during the Chinese New Year holiday period. Of course, many people assume that there's plenty of available rooms on the island and that reservations weren't necessary.Having said so, there are indeed quite a number of resorts, motels and inns on Teluk Nipah and Pasir Bogak. In particular, Teluk Nipah. One end of the beach is chock-full with chalets, A-huts, small resorts and and restaurants. The accommodation here is quite affordable for budget travellers although not quite as cheap as what can be found on Tioman. Located about 90km south west from Ipoh and reachable by free from Lumut in only 35mins, Pangkor Island is 8 square km big and inhabited by 25000 people, mainly fishermen.Pan gkor Island Beach Resort is the getaway from the metropolitan life to rest, relax and rejuvenate. Located between Penang and Kuala Lumpur, the journey from the country’s capital takes only about 3 hours to the coastal town of Lumut, either by car or limousine coach, the scenic landscape is an experience by itself. Pangkor Island is an idyllic and beautiful island resort for a free a carefree and relaxing holiday.It’s natural scenery of green hills and palm-fringed beaches of fine white sand lapped by the warm blue waters of the Straits of Malacca is truly magnificent. Therefore I chose the Pangkor island as a place famous in Malaysia because it does not need expensive costly and not wasting my time. We also will be soothed and comforted by natural flora and fauna of the island. Beside that, our mind will be fresh when there.

Linear Parent Functions (Algebra Help)

Linear Parent Functions (Algebra Help) In Algebra Functions, a function is described as a set of data that has one distinct output (y) for each input (x). A function also describes the relationship between inputs (x) and outputs (y). As a testament to the various patterns between x and y, several types of functions exist. Algebraic Functions LinearAbsolute ValueQuadraticExponentialTrigonometricRationalLogarithmic Each type of Algebraic function is its own family and possesses unique traits. If you want to understand the characteristics of each family, study its parent function, a template of domain and range that extends to other members of the family. This article focuses on the linear parent function. Linear Parent Function Characteristics The equation of the linear parent function is y x. Refer to Linear Parent Function for the graph of y x. Domain: All real numbers Range: All real numbersThe slope, or rate of change, is constant. Linear Function Flips, Shifts, and Other Tricks Family members have common and contrasting attributes. If your dad has a big nose, then you probably have one as well. Nonetheless, just as you are different from your parents, so is a subsequent function different from its parent. Note: Any changes to the equation will alter the graph. Vertical Shiftsy x1The graph shifts up 1 unit. y x-4The graph shifts down 4 units. Changes in Steepnessy 3xThe graph becomes steeper. y  ½xThe graph becomes flatter. Negative Influencey  The graph flips and slopes downward, instead of upward. (See Calculate a Negative Slope.)

Months of the Year in Spanish

Months of the Year in Spanish Words for the months are very similar in English and Spanish thanks to their  common heritage: enero - Januaryfebrero - Februarymarzo - Marchabril - Aprilmayo - Mayjunio - Junejulio - Julyagosto - Augustseptiembre, setiembre - Septemberoctubre - Octobernoviembre - Novemberdiciembre - December Key Takeaways: The Months in Spanish The names of the months of year in English and Spanish are similar because they come from the age of the Roman Empire.Names of the months in Spanish are masculine and not normally capitalized.The most common pattern for writing dates in Spanish is number de month de year. Grammar of the Months in Spanish All of the names for months are masculine, although it usually isnt necessary to use the article el except when giving specific dates, and then the el comes before the number rather than the month. Note that unlike in English, the names of the months are not capitalized in Spanish (except at the beginning of a sentence or composition title). Three months have adjective forms: abrileà ±o (pertaining to April), marzal (pertaining to March), and agosteà ±o (pertaining to August). Example: Las lluvias abrileà ±as de nuestro paà ­s son persistentes. (The April rains in our country are persistent.) How to Write Dates in Spanish The most common way of giving dates is following this pattern: el 1 de enero de 2000. For example: La Declaracià ³n de Independencia de los EE.UU. fue ratificada por el Congreso Continental el 4 de julio de 1776 en Filadelfia. (The U.S. Declaration of Independence was ratified by the Continental Congress on July 4, 1776, in Philadelphia.) As in that example, the word on in an on date phrase does not have to be translated to Spanish. Otherwise, the names of months are used similarly to the structure in English: Abril es el cuarto mes del aà ±o. (April is the fourth month of the year.)Asturias registrà ³ el febrero ms seco y clido desde 1990. (Asturias recorded the driest, warmest February since 1990.)Un aà ±o bisiesto es uno con 366 dà ­as en vez de 365. Cada cuatro aà ±os, febrero tiene un dà ­a ms. (A leap year is one with 366 days instead of 356. Every four years, February has an extra day.)Fue publicado el 28 de febrero de 2008. (It was published on February 28, 2008.)Era un diciembre mgico. (It was a magic December.)Se celebra el 24 de octubre como Dà ­a de las Naciones Unidas. (October 24 is celebrated as United Nations Day.)Segà ºn las creencias de la astrologà ­a, las personas que nacieron el 20 de octubre son en cierto modo una paradoja. (According to astrological beliefs, people born on Oct. 20 are paradoxical in some way.)El 25 de octubre es el 298o dà ­a del aà ±o en el calendario gregoriano. (October 25 is the 298th day of the year in the Gregorian calendar.)Cada feb rero, una marmota llamada Phil sale de su cueva. (Each February, a groundhog named Phil comes out of his burrow.) El 6 de enero es un dà ­a importante para la nià ±ez mexicana, porque es el dà ­a que llegan los Reyes Magos a dejar regalos. (January 6 is an important date for Mexican children, because it is the day that the Wise Men arrive to leave gifts.) Abbreviating Dates When writing dates using just numbers, Spanish typically uses Roman numerals using a date-month-year sequence. For example, September 16, 1810 (Mexicos independence date), would be written as 16-IX-1810. Note that the sequence is similar to that used in English in Great Britain (as well as in most other European languages) but not the United States. Origins of the Months Names The names of the months all come from Latin, the language of the Roman Empire: enero - from the Roman god Janus, the guardian or doors and gates.febrero - from a word meaning purify. A feast of purification was once held at this time of year.marzo - from Martius, the word for the planet Mars.abril - meaning uncertain. It may be a variation of the name of the Greek god Aphrodite.mayo - possibly from Maia, a Roman earth goddess.junio - possibly from Junio, a goddess married to Jupiter.julio - in honor of Julius Caesar.agosto - in honor of August Caesar.septiembre - from a Latin word for seven. September was the seventh month of the old Roman calendar.octubre - from a Latin word for eight.noviembre - from a Latin word for nine.diciembre - from a Latin word for ten.

Business Plan Bar & Grill Essay Example for Free

Business Plan Bar & Grill Essay Asset (205) , Expense (23) company About StudyMoose Contact Careers Help Center Donate a Paper Legal Terms & Conditions Privacy Policy Complaints This is a business plan. It does not imply an offering of securities. 1.0 Executive Summary1 Chart: Highlights2 1.1 Objectives2 1.2 Mission2 1.3 Keys to Success2 2.0 Company Summary3 2.1 Company Ownership3 2.2 Start-up Summary4 Table: Start-up4 3.0 Products and Services5 4.0 Market Analysis Summary6 4.1 Market Segmentation6 Table: Market Analysis7 Chart: Market Analysis (Pie)7 4.2 Target Market Segment Strategy7 4.3 Service Business Analysis8 4.3.1 Competition and Buying Patterns9 5.0 Web Plan Summary9 5.1 Website Marketing Strategy9 5.2 Development Requirements9 6.0 Strategy and Implementation Summary9 6.1 SWOT Analysis10 6.1.1 Strengths10 6.1.2 Weaknesses10 6.1.3 Opportunities10 6.1.4 Threats10 6.2 Competitive Edge10 6.3 Marketing Strategy11 6.4 Sales Strategy11 6.4.1 Sales Forecast12 Table: Sales Forecast12 Chart: Sales Monthly13 Chart: Sales by Year13 6.5 Milestones14 Table: Milestones14 7.0 Management Summary14 7.1 Personnel Plan14 Table: Personnel15 8.0 Financial Plan15 8.1 Start-up Funding16 Table: Start-up Funding16 8.2 Important Assumptions17 8.3 Break-even Analysis17 Table: Break-even Analysis17 Chart: Break-even Analysis17 8.4 Projected Profit and Loss18 Table: Profit and Loss18 Chart: Profit Monthly19 Chart: Profit Yearly19 Chart: Gross Margin Monthly20 Chart: Gross Margin Yearly20 8.5 Projected Cash Flow21 Table: Cash Flow21 Chart: Cash22 8.6 Projected Balance Sheet23 Table: Balance Sheet23 8.7 Business Ratios25 Table: Ratios25 Table: Sales Forecast1 Table: Personnel1 Table: Profit and Loss2 Table: Cash Flow3 Table: Balance Sheet5 1.0 Executive Summary [Company Name] Contact: [Name] Direct Phone: XXX-XXX-XXXX Address: [Address] [City, State ZIP] Email: [Email Address] Introduction The long-term goal of [Company Name] is to serve quality food, have outstanding customer service and run and maintain a cost efficient base without sacrificing quality. [Company Name]serves high quality food and beverages in an inviting and friendly atmosphere at reasonable prices. [Company Name] is expanding its exposure through effective marketing as well as introducing the area to market segments that have not yet discovered the Company. Location [Company Name]is headquartered in Dwight, North Dakota which is located in Dickey County. The [Company Name] will be located on the site of the original [Company Name], which was built in 1961. This location is a landmark that sets on Highway 1 and 11 along the James River. The [Company Name] is nested nicely near the South Dakota border between Ellendale and Oakes, ND. The Company [Company Name]is a steakhouse concept which will offer a comfortable, friendly atmosphere. The Company’s owner is [Name], who established the restaurant as a Limited Liability Corporation. [Name] has 15 years of industry experience as a bartender and 8 years of experience as a cook. [Company Name] will be open 5 days per week. Serving dinner Tuesday-Wednesday from 5:00 pm to 10:00 pm; on Thursday – Saturday dinner served from 5:00 pm to 11:00 pm. Furthermore, the restaurant will be open one (1) Sunday a month on trial basis. Lunch will be served from 11:00 am to 2:00 pm. The restaurant will also be set-up as an all you can eat buffet style restaurant. Our Services [Company Name]’s menu will feature char broiled steaks, chicken, shrimp, burgers and a variety of basket foods along with occasional weekend specials of prime rib and barbecued ribs. Beverages will include various beers, cocktails and non-alcoholic beverages. The Market [Company Name] will focus on local residents and anyone passing by who wants to enjoy a good meal in a comfortable, friendly, down home atmosphere. [Company Name]’s market segmentation scheme is fairly straightforward and focuses on the target market, Dickey County, North Dakota residents. These customers prefer certain services and quality of food and it’s the Company’s duty to deliver on their expectations. Financial Considerations The current financial plan for [Company Name] is to obtain grant funding in the amount of $350,000. The grant will be used to get acquisition of the property, contents and rights to the business. [Company Name]has three main objectives: †¢ To serve quality food. †¢ To have outstanding customer service. †¢ To run and maintain a cost efficient base without sacrificing quality. [Company Name]’s mission is to serve high quality food and beverages in an inviting and friendly atmosphere at reasonable prices. [Company Name]’s keys to success are location, quality service and delicious food. [Company Name]is headquartered in Dwight, North Dakota Contact: [Name] Direct Phone: XXX-XXX-XXXX Address: [Address] [City, State ZIP] Email: [Email Address] The [Company Name] is located in Dwight, North Dakota, which is one mile west of the city Ludden in Dickey County. The Company is a start-up restaurant, owned by [Name], who has 15 years of industry experience as a bartender and 8 years of experience as a cook. Additionally, [Name] has 10 years of experience as an Administrative Assistant. [Company Name]is a steakhouse concept which will offer a comfortable, friendly atmosphere. The menu will feature char broiled steaks, chicken, shrimp, burgers and a variety of basket foods along with occasional weekend specials of prime rib and barbecued ribs. Beverages will include various beers, cocktails and non-alcoholic beverages. The [Company Name] will be located on the site of the original [Company Name], which was built in 1961. This location is a landmark that sets on Highway 1 and 11 along the James River. The [Company Name] is nested nicely near the South Dakota border between Ellendale and Oakes, ND. [Company Name]will be open 5 days per week. Serving dinner Tuesday-Wednesday from 5:00 pm to 10:00 pm; on Thursday – Saturday dinner served from 5:00 pm to 11:00 pm. Furthermore, the restaurant will be open one (1) Sunday a month on trial basis. Lunch will be served from 11:00 am to 2:00 pm. The restaurant will also be set-up as an all you can eat buffet style restaurant. [Company Name]will be closed on New Year’s Day, Thanksgiving Day and Christmas Day. The lounge will be open Tuesday – Saturday from 5:00 pm to 1:00 am. The rest of business structure has not been identified as of date. There will be an attorney and accountant determined at a later date. [Company Name]is a Limited Liability Corporation. The owner of the start-up restaurant is [Name], who has 100% ownership of the business. The following table and chart shows the start-up costs for [Company Name], LLC |Start-up | | | | | |Requirements | | | | | |Start-up Expenses | | |Software (Cost/Inventory Control) |$500 | |Liquor/Food License (State/County) |$1,800 | |Inspections |$1,000 | |Supplies |$2,500 | |Utilities Deposit |$1,500 | |Legal & Accounting fees |$5,000 | |Propane Tank & 1st Fill |$3,000 | |Total Start-up Expenses |$15,300 | | | | |Start-up Assets | | |Cash Required |$0 | |Start-up Inventory |$26,000 | |Other Current Assets |$30,950 | |Long-term Assets |$329,800 | |Total Assets |$386,750 | | | | |Total Requirements |$402,050 | [Company Name]is a comfortable, inviting restaurant designed to make its customers feel at home. The dining side has a sizzling 48†³ gas powered grill and char boiler which will make all steaks to perfection. The following meals come with the customer’s choice of potato, baked, hash brown or fries. Meals also include a trip to the full salad bar! All steaks are hand cut daily and charbroiled to perfection. Steaks Choice Sirloin 10 oz †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $13.75 House Sirloin 8 oz †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $12.50 Petite Sirloin 6 oz †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $9.75 Beef Tips-grilled or hand dipped in batter-deep fried†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $12.50 Rib eye 12 oz†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. $16.25 Rib eye 10 oz †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $14.75 Steak and Shrimp 6 oz sirloin steak with three deep fried shrimp †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $15.50 Seafood Walleye dipped in batter and deep fried †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $15.75 4 Jumbo shrimp served with tater sauce or red sauce†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. $13.50 Cod (Torsk)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $11.50 Chicken  ¼ pc dinner†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $11.50  ½ pc dinner†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $13.50 Baskets All baskets served with fries or onion rings. Burgers are  ½ lb handmade served on toasted bun. Hamburger basket †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $7.50 Cheese burger basket†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $7.75 Burger basket served w/cheese, lettuce, onion, tomato†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $8.50 Chicken Strip (4 pc) basket †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $8.75 Chicken Drummies (6) basket †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $8.75 Breaded Tip basket †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $9.25 Appetizer Platter Chicken drummies, Onion rings, Cheese sticks, Mushrooms, Mini Egg Rolls. Served with Ranch Dressing†¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $15.25 Beverages Coffee †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $1.00 Tea †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $1.00 Soda†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. $1.50 Milk†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $1.50 The U.S. restaurant industry, which consist of fast food, casual dining and upscale chains, is facing its toughest stretch in three decades. This is due to declining guest traffic, declining average check, and a decline in sales. To survive, restaurant operators will need to balance incentives and discounts with added value and brand enhancement. Steak restaurants comprise less than 5% of the total restaurant market. Service oriented steak houses have room to grow. Meat and potatoes are still what Americans want, and they want it with good service. [Company Name]will focus on local residents and anyone passing by who wants to enjoy a good meal in a comfortable, friendly, down home atmosphere. [Company Name] intends to cater to a wide group of people. The Company wants everyone to feel welcome and relaxed in a friendly atmosphere with a large menu selection. It is its goal to have the â€Å"most tender, tastiest steaks† in the area. [Company Name]has the services necessary to flourish within this industry. By delivering superior customer service, offering affordable prices and developing an outstanding reputation, [Company Name]’s potential is excellent. Individuals going out to spend good money on meals or beverages want a variety of items to choose from. Additionally, these individuals want to dine at an establishment with consistent business hours. [Company Name]will be more than willing to offer that to all customers who walk into the business. The Company wants to create an environment that is fun, friendly and comfortable with prices that are very competitive. Customers are the first priority. [Company Name]’s market segmentation scheme is fairly straightforward and focuses on the target market, Dickey County, North Dakota residents. These customers prefer certain services and quality of food and its Company’s duty to deliver on their expectations. The information contained in the market analysis table, displays [Company Name]’s main markets. All of [Company Name]’s clients will benefit from its delicious food, atmosphere and exceptional customer service. |Market Analysis | | | | | | Year 1 | Year 2 | Year 3 | |Sales | | | | |Food |$259,480 |$275,049 |$291,552 | |Dining Beverage |$14,400 |$15,264 |$16,180 | |Bar Beverage |$30,928 |$32,784 |$34,751 | |Total Sales |$304,808 |$323,096 |$342,482 | | | | | | |Direct Cost of Sales | Year 1 | Year 2 | Year 3 | |Food |$90,800 |$96,248 |$102,023 | |Dining Beverage |$1,440 |$1,526 |$1,618 | |Bar Beverage |$9,588 |$10,163 |$10,773 | |Subtotal Direct Cost of Sales |$101,828 |$107,938 |$114,414 | In order to achieve the growth and marketing goals that have been outline in this business plan, [Company Name]has deadlines to meet and ideas to implement. Some of these are outlined below: 1. Obtain grant funding in the amount of $350,000 to improve business 2. Acquisition of the property, contents and rights to the business |Milestones | | | | | | Year 1 | Year 2 | Year 3 | |Owner/Manager |$33,600 |$34,272 |$34,957 | |Head Cook |$16,800 |$17,136 |$17,479 | |Asst. Cook |$7,776 |$7,932 |$8,090 | |Head Waiter |$12,180 |$12,424 |$12,672 | |Waiters |$13,080 |$13,342 |$13,608 | |Bartenders |$8,352 |$8,519 |$8,689 | |Dishwashers |$6,264 |$6,389 |$6,517 | |Total People |14 |14 |14 | | | | | | |Total Payroll |$98,052 |$100,013 |$102,013 | The current financial plan for [Company Name]is to obtain grant funding in the amount of $350,000. The grant will be used to get acquisition of the property, contents and rights to the business. The following sections of this plan will serve to describe [Company Name]’s financial plan in more detail: †¢ General Assumptions †¢ Break-even Analysis †¢ Profit and Loss †¢ Cash Flow †¢ Balance [Company Name]’s start-up costs are detailed in the Start-up Table. The following table shows how these start-up costs will be funded. |Start-up Funding | | |Start-up Expenses to Fund |$15,300 | |Start-up Assets to Fund |$386,750 | |Total Funding Required |$402,050 | | | | |Assets | | |Non-cash Assets from Start-up |$386,750 | |Cash Requirements from Start-up |$0 | |Additional Cash Raised |$0 | |Cash Balance on Starting Date |$0 | |Total Assets |$386,750 | | | | | | | |Liabilities and Capital | | | | | |Liabilities | | |Current Borrowing |$0 | |Long-term Liabilities |$0 | |Accounts Payable (Outstanding Bills) |$0 | |Other Current Liabilities (interest-free) |$0 | |Total Liabilities |$0 | | | | |Capital | | | | | |Planned Investment | | |Owner |$10,000 | |Outside Financing |$350,000 | |Additional Investment Requirement |$42,050 | |Total Planned Investment |$402,050 | | | | |Loss at Start-up (Start-up Expenses) |($15,300) | |Total Capital |$386,750 | | | | | | | |Total Capital and Liabilities |$386,750 | | | | |Total Funding |$402,050 | The table below presents the assumptions used in the financial calculations of this business plan. The average percent variable cost is estimated to be 33%. The estimated monthly fixed cost is $13,705. For the break-even analysis, the monthly revenue needed to break-even is $20,581. The break-even analysis has been calculated on the â€Å"burn rate† of the Company. [Company Name]feels that this gives the investor a more accurate picture of the actual risk of the venture. |Break-even Analysis | | | | | |Monthly Revenue Break-even |$20,581 | | | | |Assumptions: | | |Average Percent Variable Cost |33% | |Estimated Monthly Fixed Cost |$13,705 | [Company Name]’s Pro Forma Profit and Loss statement was constructed from a conservative point-of-view, and is based in large part on past performance. The income for Year 1, Year 2 and Year 3 are $304,808, $323,096 and $342,482, respectively. The net profit for the same period is $26,961, $36,035 and $42,838, respectively. The percentages of the net profit sales for this period were 8.85%, 11.15% and 12.51%, respectively. Once the Company receives grant funding to add the new assets, the depreciation of the building will be over a 20 year period, while the equipment will be depreciated over a 7 year period. |Pro Forma Profit and Loss | | | | | | Year 1 | Year 2 | Year 3 | |Sales |$304,808 |$323,096 |$342,482 | |Direct Cost of Sales |$101,828 |$107,938 |$114,414 | |Other Costs of Sales |$0 |$0 |$0 | |Total Cost of Sales |$101,828 |$107,938 |$114,414 | | | | | | |Gross Margin |$202,980 |$215,159 |$228,068 | |Gross Margin % |66.59% |66.59% |66.59% | | | | | | |Expenses | | | | |Payroll |$98,052 |$100,013 |$102,013 | |Marketing/Promotion |$6,250 |$6,438 |$6,631 | |Depreciation |$12,045 |$13,143 |$13,143 | |Supplies |$600 |$618 |$637 | |Utilities |$8,400 |$8,652 |$8,912 | |Insurance |$5,004 |$5,004 |$5,004 | |Maintenance |$1,200 |$1,236 |$1,273 | |Office Expense |$1,800 |$1,854 |$1,910 | |Payroll Taxes |$9,805 |$10,001 |$10,201 | |Phone/TV/Internet |$1,800 |$1,854 |$1,910 | |Propane |$12,000 |$12,360 |$12,731 | |Property Tax |$2,508 |$2,508 |$2,508 | |Acct & Legal |$5,000 |$0 |$0 | | | | | | |Total Operating Expenses |$164,464 |$163,681 |$166,871 | | | | | | |Profit Before Interest and Taxes |$38,516 |$51,478 |$61,197 | |EBITDA |$50,561 |$64,621 |$74,340 | | Interest Expense |$0 |$0 |$0 | | Taxes Incurred |$11,555 |$15,443 |$18,359 | | | | | | |Net Profit |$26,961 |$36,035 |$42,838 | |Net Profit/Sales |8.85% |11.15% |12.51% | [Company Name] is a start-up Company that has applied for a grant of $350,000. The Company forecasts that it will receive funding in the month of October. During this period, the Company will get acquisition of the property, contents and rights to the business. The following table displays [Company Name]’s cash flow, and the chart illustrates monthly cash flow in the first year. Monthly cash flow projections are also included in the appendix. |Pro Forma Cash Flow | | | | | | Year 1 | Year 2 | Year 3 | |Cash Received | | | | | | | | | |Cash from Operations | | | | |Cash Sales |$304,808 |$323,096 |$342,482 | |Subtotal Cash from Operations |$304,808 |$323,096 |$342,482 | | | | | | |Additional Cash Received | | | | |Sales Tax, VAT, HST/GST Received |$0 |$0 |$0 | |New Current Borrowing |$0 |$0 |$0 | |New Other Liabilities (interest-free) |$0 |$0 |$0 | |New Long-term Liabilities |$0 |$0 |$0 | |Sales of Other Current Assets |$0 |$0 |$0 | |Sales of Long-term Assets |$0 |$0 |$0 | |New Investment Received |$350,000 |$0 |$0 | |Subtotal Cash Received |$654,808 |$323,096 |$342,482 | | | | | | |Expenditures | Year 1 | Year 2 | Year 3 | | | | | | |Expenditures from Operations | | | | |Cash Spending |$98,052 |$100,013 |$102,013 | |Bill Payments |$136,504 |$176,166 |$184,277 | |Subtotal Spent on Operations |$234,556 |$276,179 |$286,291 | | | | | | |Additional Cash Spent | | | | |Sales Tax, VAT, HST/GST Paid Out |$0 |$0 |$0 | |Principal Repayment of Current Borrowing |$0 |$0 |$0 | |Other Liabilities Principal Repayment |$0 |$0 |$0 | |Long-term Liabilities Principal Repayment |$0 |$0 |$0 | |Purchase Other Current Assets |$0 |$0 |$0 | |Purchase Long-term Assets |$0 |$0 |$0 | |Dividends |$0 |$0 |$0 | |Subtotal Cash Spent |$234,556 |$276,179 |$286,291 | | | | | | |Net Cash Flow |$420,252 |$46,917 |$56,192 | |Cash Balance |$420,252 |$467,170 |$523,361 | [Company Name]’s net worth is $763,711, $799,746 and $842,583, for Year 1, Year 2 and Year 3, respectively. |Pro Forma Balance Sheet | | | | | | Year 1 | Year 2 | Year 3 | |Assets | | | | | | | | | |Current Assets | | | | |Cash |$420,252 |$467,170 |$523,361 | |Inventory |$10,924 |$11,342 |$12,023 | |Other Current Assets |$30,950 |$30,950 |$30,950 | |Total Current Assets |$462,126 |$509,462 |$566,334 | | | | | | |Long-term Assets | | | | |Long-term Assets |$329,800 |$329,800 |$329,800 | |Accumulated Depreciation |$12,045 |$25,188 |$38,331 | |Total Long-term Assets |$317,755 |$304,612 |$291,469 | |Total Assets |$779,881 |$814,074 |$857,803 | | | | | | Table: Balance Sheet (Continued) |Liabilities and Capital | Year 1 | Year 2 | Year 3 | | | | | | |Current Liabilities | | | | |Accounts Payable |$16,170 |$14,328 |$15,219 | |Current Borrowing |$0 |$0 |$0 | |Other Current Liabilities |$0 |$0 |$0 | |Subtotal Current Liabilities |$16,170 |$14,328 |$15,219 | | | | | | |Long-term Liabilities |$0 |$0 |$0 | |Total Liabilities |$16,170 |$14,328 |$15,219 | | | | | | |Paid-in Capital |$752,050 |$752,050 |$752,050 | |Retained Earnings |($15,300) |$11,661 |$47,696 | |Earnings |$26,961 |$36,035 |$42,838 | |Total Capital |$763,711 |$799,746 |$842,583 | |Total Liabilities and Capital |$779,881 |$814,074 |$857,803 | | | | | | |Net Worth |$763,711 |$799,746 |$842,583 | The table below presents ratios from the full-service restaurant markets as a reference. |Ratio Analysis | | | | | | | Year 1 | Year 2 | Year 3 |Industry Profile | |Sales Growth |n.a. |6.00% |6.00% |1.65% | | | | | | | |Percent of Total Assets | | | | | |Inventory |1.40% |1.39% |1.40% |6.34% | |Other Current Assets |3.97% |3.80% |3.61% |43.25% | |Total Current Assets |59.26% |62.58% |66.02% |53.12% | |Long-term Assets |40.74% |37.42% |33.98% |46.88% | |Total Assets |100.00% |100.00% |100.00% |100.00% | | | | | | | |Current Liabilities |2.07% |1.76% |1.77% |25.40% | |Long-term Liabilities |0.00% |0.00% |0.00% |73.91% | |Total Liabilities |2.07% |1.76% |1.77% |99.31% | |Net Worth |97.93% |98.24% |98.23% |0.69% | | | | | | | |Percent of Sales | | | | | |Sales |100.00% |100.00% |100.00% |100.00% | |Gross Margin |66.59% |66.59% |66.59% |58.06% | |Selling, General & Administrative Expenses |57.75% |55.44% |54.08% |23.02% | |Advertising Expenses |2.05% |1.99% |1.94% |1.74% | |Profit Before Interest and Taxes |12.64% |15.93% |17.87% |6.52% | | | | | | | |Main Ratios | | | | | |Current |28.58 |35.56 |37.21 |1.25 | |Quick |27.90 |34.77 |36.42 |1.00 | |Total Debt to Total Assets |2.07% |1.76% |1.77% |99.31% | |Pre-tax Return on Net Worth |5.04% |6.44% |7.26% |4325.19% | |Pre-tax Return on Assets |4.94% |6.32% |7.13% |29.65% | | | | | | | Table: Ratios (Continued) |Additional Ratios | Year 1 | Year 2 | Year 3 | | |Net Profit Margin |8.85% |11.15% |12.51% |n.a | |Return on Equity |3.53% |4.51% |5.08% |n.a | | | | | | | |Activity Ratios | | | | | |Inventory Turnover |10.09 |9.70 |9.79 |n.a | |Accounts Payable Turnover |9.44 |12.17 |12.17 |n.a | |Payment Days |27 |32 |29 |n.a | |Total Asset Turnover |0.39 |0.40 |0.40 |n.a | | | | | | | |Debt Ratios | | | | | |Debt to Net Worth |0.02 |0.02 |0.02 |n.a | |Current Lab. to Liab. |1.00 |1.00 |1.00 |n.a | | | | | | | |Liquidity Ratios | | | | | |Net Working Capital |$445,956 |$495,134 |$551,114 |n.a | |Interest Coverage |0.00 |0.00 |0.00 |n.a | | | | | | | |Additional Ratios | | | | | |Assets to Sales |2.56 |2.52 |2.50 |n.a | |Current Debt/Total Assets |2% |2% |2% |n.a | |Acid Test |27.90 |34.77 |36.42 |n.a | |Sales/Net Worth |0.40 |0.40 |0.41 |n.a | |Dividend Payout | 0.00 |0.00 |0.00 |n.a | Sales Forecast Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12SalesFood$19,346 $19,733 $20,128 $20,531 $20,942 $21,361 $21,788 $22,224 $22,668 $23,121 $23,583 $24,055 Dining Beverage$1,000 $1,102 $1,124 $1,146 $1,169 $1,192 $1,216 $1,240 $1,265 $1,290 $1,316 $1,340 Bar Beverage$2,306 $2,352 $2,399 $2,447 $2,496 $2,546 $2,597 $2,649 $2,702 $2,756 $2,811 $2,867 Total Sales$22,652 $23,187 $23,651 $24,124 $24,607 $25,099 $25,601 $26,113 $26,635 $27,167 $27,710 $28,262 Direct Cost of Sales Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12Food$5,705 $5,990 $6,290 $6,604 $6,934 $7,281 $7,645 $8,027 $8,428 $8,849 $9,291 $9,756 Dining Beverage$102 $105 $108 $111 $114 $117 $121 $125 $129 $133 $136 $139 Bar Beverage$602 $639 $664 $697 $732 $769 $807 $847 $889 $933 $980 $1,029 Subtotal Direct Cost of Sales$6,409 $6,734 $7,062 $7,412 $7,780 $8,167 $8,573 $8,999 $9,446 $9,915 $10,407 $10,924  Table: Personnel Personnel Plan Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12Owner/Manager$2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 $2,800 Head Cook$1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 $1,400 Asst. Cook$648 $648 $648 $648 $648 $648 $648 $648 $648 $648 $648 $648 Head Waiter$1,015 $1,015 $1,015 $1,015 $1,015 $1,015 $1,015 $1,015 $1,015 $1,015 $1,015 $1,015 Waiters$1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 $1,090 Bartenders$696 $696 $696 $696 $696 $696 $696 $696 $696 $696 $696 $696 Dishwashers$522 $522 $522 $522 $522 $522 $522 $522 $522 $522 $522 $522 Total People14 14 14 14 14 14 14 14 14 14 14 14 Total Payroll$8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171  Table: Profit and Loss Pro Forma Profit and Loss Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12Sales$22,652 $23,187 $23,651 $24,124 $24,607 $25,099 $25,601 $26,113 $26,635 $27,167 $27,710 $28,262 Direct Cost of Sales$6,409 $6,734 $7,062 $7,412 $7,780 $8,167 $8,573 $8,999 $9,446 $9,915 $10,407 $10,924 Other Costs of Sales$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Total Cost of Sales$6,409 $6,734 $7,062 $7,412 $7,780 $8,167 $8,573 $8,999 $9,446 $9,915 $10,407 $10,924 Gross Margin$16,243 $16,453 $16,589 $16,712 $16,827 $16,932 $17,028 $17,114 $17,189 $17,252 $17,303 $17,338 Gross Margin %71.71% 70.96% 70.14% 69.28% 68.38% 67.46% 66.51% 65.54% 64.54% 63.50% 62.44% 61.35% ExpensesPayroll$8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 Market ing/Promotion$750 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 $500 Depreciation$0 $1,095 $1,095 $1,095 $1,095 $1,095 $1,095 $1,095 $1,095 $1,095 $1,095 $1,095 Supplies$50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 $50 Utilities$700 $700 $700 $700 $700 $700 $700 $700 $700 $700 $700 $700 Insurance$417 $417 $417 $417 $417 $417 $417 $417 $417 $417 $417 $417 Maintenance$100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 Office Expense$150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 Payroll Taxes10% $817 $817 $817 $817 $817 $817 $817 $817 $817 $817 $817 $817 Phone/TV/Internet$150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 Propane$1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 Property Tax$209 $209 $209 $209 $209 $209 $209 $209 $209 $209 $209 $209 Acct & Lega l$5,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Total Operating Expenses$17,514 $13,359 $13,359 $13,359 $13,359 $13,359 $13,359 $13,359 $13,359 $13,359 $13,359 $13,359 Profit Before Interest and Taxes($1,271)$3,094 $3,230 $3,353 $3,468 $3,573 $3,669 $3,755 $3,830 $3,893 $3,944 $3,979 EBITDA($1,271)$4,189 $4,325 $4,448 $4,563 $4,668 $4,764 $4,850 $4,925 $4,988 $5,039 $5,074  Interest Expense$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0  Taxes Incurred($381)$928 $969 $1,006 $1,040 $1,072 $1,101 $1,126 $1,149 $1,168 $1,183 $1,194 Net Profit($890)$2,166 $2,261 $2,347 $2,428 $2,501 $2,568 $2,628 $2,681 $2,725 $2,761 $2,785 Net Profit/Sales-3.93% 9.34% 9.56% 9.73% 9.87% 9.96% 10.03% 10.07% 10.07% 10.03% 9.96% 9.86% Table: Cash Flow Pro Forma Cash Flow Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12Cash ReceivedCash from OperationsCash Sales$22,652 $23,187 $23,651 $24,124 $24,607 $25,099 $25,601 $26,113 $26,635 $27,167 $27,710 $28,262 Subtotal Cash from Operations$22,652 $23,187 $23,651 $24,124 $24,607 $25,099 $25,601 $26,113 $26,635 $27,167 $27,710 $28,262 Additional Cash ReceivedSales Tax, VAT, HST/GST Received0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 New Current Borrowing$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 New Other Liabilities (interest-free)$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 New Long-term Liabilities$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Sales of Other Current Assets$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Sales of Long-term Assets$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 New Investment Received$350,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Subtotal Cash Received$372,652 $23,187 $23,651 $24,124 $24,607 $25,099 $25,601 $26,113 $26,635 $27,167 $27,710 $28,262 Table: Cash Flow (Continued) Expenditures Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12Expenditures from OperationsCash Spending$8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 $8,171 Bill Payments$299 $8,830 $5,065 $6,547 $12,875 $13,296 $13,734 $14,188 $14,661 $15,152 $15,663 $16,194 Subtotal Spent on Operations$8,470 $17,001 $13,236 $14,718 $21,046 $21,467 $21,905 $22,359 $22,832 $23,323 $23,834 $24,365 Additional Cash SpentSales Tax, VAT, HST/GST Paid Out$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Principal Repayment of Current Borrowing$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Liabilities Principal Repayment$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Long-term Liabilities Principal Repayment$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Purchase Other Current Assets$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Purchase Long-term Assets$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Dividends$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Subtotal Cash Spent$8,470 $17,001 $13,236 $14,718 $21,046 $21,467 $21,905 $22,359 $22,832 $23,323 $23,834 $24,365 Net Cash Flow$364,182 $6,186 $10,415 $9,406 $3,561 $3,632 $3,696 $3,754 $3,803 $3,844 $3,876 $3,897 Cash Balance$364,182 $370,368 $380,783 $390,189 $393,750 $397,382 $401,078 $404,832 $408,635 $412,479 $416,355 $420,252 Table: Balance Sheet Pro Forma Balance Sheet Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12AssetsStarting BalancesCurrent AssetsCash$0 $364,182 $370,368 $380,783 $390,189 $393,750 $397,382 $401,078 $404,832 $408,635 $412,479 $416,355 $420,252 Inventory$26,000 $19,591 $12,857 $7,062 $7,412 $7,780 $8,167 $8,573 $8,999 $9,446 $9,915 $10,407 $10,924 Other Current Assets$30,950 $30,950 $30,950 $30,950 $30,950 $30,950 $30,950 $30,950 $30,950 $30,950 $30,950 $30,950 $30,950 Total Current Assets$56,950 $414,723 $414,175 $418,795 $428,551 $432,480 $436,499 $440,601 $444,781 $449,031 $453,344 $457,712 $462,126 Long-term AssetsLong-term Assets$329,800 $329,800 $329,800 $329,800 $329,800 $329,800 $329,800 $329,800 $329,800 $329,800 $329,800 $329,800 $329,800 Accumulated Depreciati on$0 $0 $1,095 $2,190 $3,285 $4,380 $5,475 $6,570 $7,665 $8,760 $9,855 $10,950 $12,045 Total Long-term Assets$329,800 $329,800 $328,705 $327,610 $326,515 $325,420 $324,325 $323,230 $322,135 $321,040 $319,945 $318,850 $317,755 Total Assets$386,750 $744,523 $742,880 $746,405 $755,066 $757,900 $760,824 $763,831 $766,916 $770,071 $773,289 $776,562 $779,881 Table: Balance Sheet (Continued) Liabilities and Capital Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12Current LiabilitiesAccounts Payable$0 $8,663 $4,854 $6,118 $12,432 $12,839 $13,262 $13,700 $14,156 $14,631 $15,123 $15,636 $16,170 Current Borrowing$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Other Current Liabilities$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Subtotal Current Liabilities$0 $8,663 $4,854 $6,118 $12,432 $12,839 $13,262 $13,700 $14,156 $14,631 $15,123 $15,636 $16,170 Long-term Liabilities$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Total Liabilities$0 $8,663 $4,854 $6,118 $12,432 $12,839 $13,262 $13,700 $14,156 $14,631 $15,123 $15,636 $16,170 Paid-in Capital$402,050 $752,050 $752,050 $752,050 $752,050 $752,050 $752,050 $752,050 $752,050 $752,050 $752,050 $752,050 $752,050 Retained Earning s($15,300)($15,300)($15,300)($15,300)($15,300)($15,300)($15,300)($15,300)($15,300)($15,300)($15,300)($15,300)($15,300)Earnings$0 ($890)$1,276 $3,537 $5,884 $8,311 $10,812 $13,381 $16,009 $18,690 $21,415 $24,176 $26,961 Total Capital$386,750 $735,860 $738,026 $740,287 $742,634 $745,061 $747,562 $750,131 $752,759 $755,440 $758,165 $760,926 $763,711 Total Liabilities and Capital$386,750 $744,523 $742,880 $746,405 $755,066 $757,900 $760,824 $763,831 $766,916 $770,071 $773,289 $776,562 $779,881 Net Worth$386,750 $735,860 $738,026 $740,287 $742,634 $745,061 $747,562 $750,131 $752,759 $755,440 $758,165 $760,926 $763,711  INFORMATION AND FORMS ARE PROVIDED â€Å"AS IS† WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF 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Docstoc is prohibited from providing any kind of advice, explanation, opinion, or recommendation to a consumer about possible legal rights, remedies, defenses, options, selection, or completion of forms or strategies. Communications between you and Docstoc may be protected by our Privacy Policy (http://premium.docstoc.com/privacypolicy), but are NOT protected by the attorney-client privilege or work product doctrine since Docstoc is not a law firm and is not providing legal advice. No Docstoc employee, contractor, or attorney is authorized to provide you with any advice abo ut what information (again, which includes forms) to use or how to use or complete it or them. Entire document copyright  © Docstoc ®, Inc., 2010 – 2013 All Right Reserved ———————– Business Plan for Restaurant Bar and Grill This Business Plan for a Bar and Grill Restaurant allows entrepreneurs or business owners to create a comprehensive and professional business plan. This template form allows a business to outline the company’s objectives and detail both current company information as well as any past performance. Companies should include a complete market analysis in their plan to help showcase why their business strategy will be effective in the market. Future company plans, including production targets, management strategy, and financial forecasting, should be used to demonstrate and confirm that the company’s short-term and long-term objective can and will be met. This model plan can be customized to best fit the unique needs of any entrepreneur or owner that is seeking to create a strong business plan. Business Plan for Restaurant Bar and Grill This Business Plan for a Bar and Grill Restaurant allows entrepreneurs or business owners to create a comprehensive and professional business plan. This template form allows a business to outline the company?s objectives and detail both curren[pic][?] Business Plan Bar & Grill. (2016, Mar 15). 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Analyze a current or past relationship and create a strategy for managing it - Essay Example Losing contact with each other, we both had strings of relationships until both of us had our families. Both of us had only one child out of our own marriages and both of us got divorced from our spouses. Twenty years later, Andy came back to visit me at my mom’s house. He just took a chance if I was there, and was surprised when I was, as I was also visiting her. It was a pleasant surprise for both of us. At first, it was awkward seeing your first love two decades later when a whole lifetime has passed in between. We caught up with each other’s lives, but did not have enough time, since he was flying back to Australia the following day. A week later, I found a friend request on Facebook from Andy which I happily accepted. Since that time, we have spent much time chatting with each other, and even tried video-chatting a few times. Over time, we realized we were still in love with each other after all these years. Although we did not officially declare that we are once a gain a couple, we treat each other as if we are. I cannot fully commit to him because I did not really believe in long distance relationships, and somehow, had doubts as to his relationship history, since he has shared that he’s been into several relationships after his divorce. I, myself, have not gone dating after my divorce, so I had several qualms about getting into a serious relationship at this point in my life. Meanwhile, I decided to enjoy what Andy and I currently have, without the complications of commitment. It is what is known in social networking sites as a relationship status of â€Å"It’s Complicated†. Attraction Our initial attraction to each other was physical. Andy was a very handsome teenager, and was quite popular with the girls. On the other hand, I did not look bad myself, being a cheerleader and a prom queen contender. Knowing each other well as we dated exclusively in our teens, the attraction went beyond the surface. I discovered that he had a kind heart which was compassionate to others in need. He was a very good son and brother and to top it all, he had a sense of humor that complemented mine. I admired his drive and ambition to be successful, and envied his focus and persistence in his studies. I was sure that he was a great catch and would be an ideal husband and father as well as a successful professional in the future. Andy admitted that he fell in love with my feminine ways and the way I treated my family and friends. He felt very protective over me because I was so naive. He liked the fact that I was very down-to-earth and did not waste my time on shallow things such as fashion, make-up and boys. He loved my simplicity and the fact that I was a homebody, very skilled in cooking and home design and organization. He also thought I would make the perfect wife and mother someday. Our short term and long-term attraction factors for each other may be explained theoretically. Matlin (2008) explains gender differe nces in attraction partner as based on an evolutionary psychology approach. According to this approach, people’s preferences have roots in evolution where men prefer young, attractive, healthy-looking women who are likely to pass on men’s genes to the next generation. On the other hand, women are drawn to men who are economically stable to ensure that their future children are well provided for (Matlin, 2008). Women were also found to value a partner’s ambition, industriousness and social dominance as well as emotional

Inventory Management for EMC Research Paper Example | Topics and Well Written Essays - 1000 words - 1

Inventory Management for EMC - Research Paper Example Figure 1 indicates that most of the goods are work-in-progress. At the beginning of the year work-in-progress (WIP) represented approximately 39% of the goods in stock, finished goods 25, raw materials 21% and purchased parts 15%. At the end of the period they represent 36%, 28%, 19% and 17% respectively. According to Wong (2006) the first step in determining an inventory situation can be facilitated through the use of ABC analysis. This analysis determines the importance of items and the level of controls placed on them. Using the relative proportions of cost of goods sold for the company’s product line the relative proportions of the different inventory types are shown in Table 1 below. The actual raw material and purchased parts that are used to make the different products in each product line has not been identified but it shows that 37.48% are decorative hardware, 27.25% construction hardware, 25.85% Cabinet Hardware and 9.42% Fasteners. In order to improve the inventory situation at EMC the company should first apply ABC analysis. ABC analysis places emphasis on the value of inventory (Wong n.d.). Focusing on inventory with the highest value can allow companies to assign the necessary resources to achieve the optimum inventory levels and in so doing reduce inventory cost while ensuring that customers needs are met (Wong n.d.). ABC analysis when applied to EMC’s inventory situation will help the company determine the importance of items and the level of controls that should be placed on them. The majority of EMC’s inventory relates to items used in the production of decorative and construction hardware. These could be described as the A items because they are of higher value while those used in the production of cabinet hardware would be the B items, and fasteners - C items. The A items (a combination of decorative and construction hardware