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# Chester Company

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] \$32,720,000

2) What is the Quick Ratio of Chester?
Select: 1
 [removed] 1.39 [removed] 1.61 [removed] 0.62 [removed] 0.72

3) 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 million

5) 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 recruitment

6) 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] Digby

7) 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 differentiator

8) 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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