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Shrutika R.
Software Engineer at Zensar Technologies
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Writing
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Question:

In classical rhetoric, dissoilogoi is the practice of writing two opposing arguments. TOPIC: For-profit colleges are a scam / identify a demand (higher ed) and smartly pursue it. 1. Write an introductory paragraph (6-10 sentences) giving an overview of the two topics. Open with a hook; provide background; finish with a thesis sentence stating the purpose of this mini-essay: to investigate two opposing sides of an issue. 2. Write two body paragraphs (6-10 sentences each) advocating one side of the dissoilogoi. Be sure to incorporate evidence and citations from your sources. 3. Write two more body paragraphs (6-10 sentences each) advocating the opposite side of the dissoilogoi. Again, incorporate evidence and citations from your sources in MLA style. Up to this point, a reader should not be able to recognize whether you prefer one side over the other. 4. Write a conclusion paragraph (6-10 sentences) stating what you personally think and why. 5. Each body paragraph must incorporate two sources (two brief quotations or paraphrases + citations in MLA style). Remember that you must set up or lead into a quotation with a signal phrase, and you must provide an MLA citation after the quotation: (author page#). 6. Paragraphs should be organized in the usual fashion: topic sentence stating the main idea, major and minor supporting details (include exactly two brief quotations + citations), concluding the sentence.

Shrutika R.
Answer:

FOR-PROFIT COLLEGES ARE A SCAM NAME MARCH 19, 2017 Introduction Colleges are institutions of professional learning. The institutions have a role in educating people in various disciples. The role of the colleges has made them be considered noble organizations with a purpose bigger than the pursuit of profit. Institutions that extensively pursue profit have been viewed to be highly likely to compromise the quality of learning thus perceived to be a scam. On the other hand, colleges require resources to sustain their operations naturally making them profit oriented. This report argues for both sides of the opinions. For-profit colleges are a scam For-profit colleges are a scam. Tierney and Guilbert analyze the rise of For-profit colleges and universities and their effects on education (34). According to the authors, these institutions focus more on shorter learning cycles to generate the most revenue than the quality of education. In addition, to attract more students and beat the competition, these colleges make it easy for students to graduate even if they have not met the requirements for practices in the professional area. This is one of the strategies that are employed by these colleges to make more profit. The result of this approach is underqualified students who have been rushed through the system without consideration of the due process. These colleges qualify as a scam because they qualify unqualified students. Deming et al., assert that for the For-profit colleges to make most profits, they must keep their expenses to a minimum (139). According to the authors, these colleges adopt an economical operating environment by hiring underqualified training experts and minimizing their expenses on essential equipment and facilities. This condition erodes the quality of education delivered as the colleges adopt practices that do not meet the threshold requirement for delivery of qualified professionals. Deming et al point out that these colleges focus more on making money than creating an environment that fosters learning (140). Students from these colleges lack the necessary exposure to deliver as professionals. On the other hand, the institutions gain high levels of profit. For-profit colleges are not a scam Cellini et al. analyze universities that have been highly ranked in the university index based on their analysis, the authors establish that the richest colleges are the most effective universities in the world (130). Colleges and other institutions are most effective and influential when they have the right amount of resources. In their study, the authors assert that the performance of a college is proportional to the resources at its disposal. Based on the findings, profit colleges should not be considered to be a scam but a successful organization. While quality is important, quality can be supported when there are enough resources for the purpose. Colleges should thus pursue profit as much as they seek quality. Considering the findings by Cellini et al., a college should not be judged whether it is a scam or not based on its profitability. While education is a noble discipline that should not be compromised for profit, a college can be profit-oriented and still deliver quality. Findings by Cellini et al. show that the chances that a college will deliver quality and value to its environment are higher when it makes a huge profit. The arguments that profit-oriented colleges are a scam is thus misinformed. Colleges that are starved of resources and have huge expenses than revenues have a higher chance of compromising the quality of education delivered. Conclusion There are two opposing opinions on profit-oriented colleges. The ultimate measure of a good college that delivers value is the quality of the students that graduates from the institutions. While other views may, point out that profit is a distraction from quality education and may compromise the pursuit of quality education, empirical findings find otherwise. These assertions are based on the assumption that pursuit of profit leads to compromise in quality. However, it is highly possible to pursue profit and maintain high-quality education. Based on these assessments, the discourse finds that For-profit colleges are not necessarily a scam. The definition of a scam should not be based on the bottom-line of the colleges.   Work Cited Cellini, Stephanie Riegg, and Latika Chaudhary. "The labor market returns to a for-profit college education." Economics of Education Review 43 (2014): 125-140. Deming, David, Claudia Goldin, and Lawrence Katz. "For-profit colleges." The Future of Children 23.1 (2013): 137-163. Tierney, William G., and Guilbert C. Hentschke. New players, different game: Understanding the rise of for-profit colleges and universities. JHU Press, 2007

Finance
TutorMe
Question:

Instructions a) Read the attached case, “Financial Statement Analysis for Small Business, A Resource Guide.” (Please note that there is no option to attach the case study; however, I can mail it to support center to substantiate the question facts) Focus on how the author uses the ratios to interpret the business performance. b) Select a public listed company with less than $1 billion market cap. The list of candidate stocks is available from web sources such as http://www.nasdaq.com/reference/stock-screener.aspx. c) Collect at least 3 years of financial information from Morningstar.com. Morningstar.com generally provides 5-year history if it is available. Some ratios need to be calculated. d) Websites like http://www.bizstats.com/ provide industry benchmark ratios. However, the latest update is only accessible through a paid subscription, but you can get delayed information for free. For our study, you can use the delayed data for your analysis. e) Use the suggested framework below and answer each of the listed questions. Study the financials from the perspectives of different groups: owners, managers, short-term creditors, long-term creditors, and market. For each question, include the related financial ratios and explain the changes over time. It is not required to include a comparison against benchmarks, but you can try including the free delayed benchmark data for practice. Introduction Short description of the company background Owners 1-1. How well is the company doing as an investment? Return on Equity or Investment: Industry 2016 2015 2014 2013 2012 ROE Comments: ?? 1-2. How well has management employed the company's assets? Return on Asset: ?? Industry 2016 2015 2014 2013 2012 ROA 1-3. List of the sources for the change of Return on equity using DuPont Identity. ROE = (Net profit margin) * (Total asset turnover) * (Equity multiplier) Explain how the three components contributed to the change of return on equity. Industry 2016 2015 2014 2013 2012 Net profit margin Total asset turnover Equity multiplier Return on equity 1-4. Comment the track records of free cash flow over the recent years? Using Morningstar.com  cash flow statement  Free cash flow = Operating cash flow – Capital expenditure Managers 2-1. Are profits high enough, given the level of sales? Net profit margin Industry 2016 2015 2014 2013 2012 2-2. How well are the company's assets being employed to generate sales revenue? The Asset Turnover ratio [Sales ÷ Average Total Assets] Industry 2016 2015 2014 2013 2012 2-3. Are receivables coming in too slowly? The Average Collection Period [(Average A/R ÷ Annual Sales) x 365] Industry 2016 2015 2014 2013 2012 2-4. Is too much cash tied up in inventories? The Inventory Turnover [Cost of Goods Sold Expense ÷ Average Inventory] industry 2016 2015 2014 2013 2012 2-5. What is the breakeven revenue? VC = Variable cost = cogs CFC = (Admin + marketing + other operating expense) + (interest expense) R = Revenue SR = Survival revenue = CFC / (1 – VC / R) 2016 2015 2014 2013 2012 R VC CFC SR Ratio of R / SR Comments Short-Term Creditors 3-1. Does this customer have sufficient cash or other liquid assets to cover its short-term obligations? The Current Ratio [Current Assets ÷ Current Liabilities] The Quick Ratio [Cash + Marketable Securities + A/R ÷ Current Liabilities] Industry 2016 2015 2014 2013 2012 3-2. How quickly does the prospective customer pay its bills? The Average Age of Payables [(Average Payable ÷ Net Purchases) x 365] Industry 2016 2015 2014 2013 2012 Long-Term Creditors 4-1. As a potential or present long-term borrower, Debt-to-Equity (D/E) [Total Debt ÷ Total Equity] Industry 2016 2015 2014 2013 2012 4-2. Are the earnings and cash flow sufficient to cover interest payments and provide for some principal repayment? The Times Interest Earned (TIE) [Income + (Interest + Taxes) ÷ Interest Expense] The Cash Flow to Total Liabilities [Operating Cash Flow ÷ Total Liabilities] Industry 2016 2015 2014 2013 2012 Market 5-1. How is the financial performance priced by the financial markets? Price-book ratio = price per share / book value per share Price-earnings ratios = price per share / earnings per share 2016 2015 2014 2013 2012 Price per share Book value per share Earnings shares Price-book ratio Price – earnings ratio Comments Summary 6-1. How to evaluate the overall financial profiles (ratios) of the company? List major conclusions from the financial analysis. 6-2. Was the price movement an accurate reflection of the change in the financial profile? Is the stock over-priced or underpriced compared against the fundamentals (financial profiles)? 6-3. Is the stock a good candidate to invest? Buy or Sell?

Shrutika R.
Answer:

Note: If there was an option to attach the document would have attached the excel which I had prepared as pasting data from Excel is not user-friendly in below space Introduction This report presents a performance analysis of Addus HomeCare Corporation to help investors make decisions about investing in it. Addus HomeCare Corporation has a market capitalization of $452.54M and represented the symbol ‘ADUS’on NASDAQ stock exchange. It is USA based corporation specialized in medical and nursing services since 2009. It provides comprehensive personal care services which are provided at homes. Its clients include; state, federal & local government agencies, commercial insurers, managed care organizations and individuals. As at 2016, the company provided service to over 33,000 clients in 114 locations within 24 states. Addus HomeCare Corporation operates in the healthcare industry. This report has been structured into sections corresponding to different groups namely; owners, managers, short-term creditors, long-term creditors, and market. The data used in the analysis was obtained from Morningstar.com for a period of 5 years between 2012 and 2016. The link to major data is; http://financials.morningstar.com/ratios/r.html?t=ADUS&region=usa&culture=en-US The base industry against which Addus HomeCare Corporation was benchmarked is Hospitals, nursing, and residential care facilities whose data is found at the following link; http://www.bizstats.com/corporation-industry-financials/health-care-social-assistance-62/hospitals-nursing-and-residential-care-facilities-626/show Owners 1-1. How well is the company doing as an investment? This is explained by Return on Equity or Investment for the recent 5 years. Industry 2016 2015 2014 2013 2012 ROE -% 41.72 8.0 8.62 10.13 18.34 8.4 Addus HomeCare Corporation has registered declining ROE since 2013 when it was estimated 18.34% to 8.0% in 2016, which over twofold. When benchmarked against the healthcare industry, there is a deficit of over 33%. These are clear indications that the company is not doing well as investment. 1-2. How well has management employed the company's assets? This is explained by Return on Asset for the recent 5 years. Industry 2016 2015 2014 2013 2012 ROA-% 8.85 5.68 6.23 7.10 12.20 5.01 From the table above, it can be seen that Addus HomeCare Corporation exhibit a declining ROA over the past 4 years from 12.2% in 2013 to 5.68%. In comparison to the healthcare industry, the 2016’s ROA for Addus HomeCare Corporation (5.68%) falls short of the industry which is 8.85%. In this regard, it can be concluded that company has not adequately employed company assets as exhibited by the declining ROA, which is even below industry benchmark. 1-3. List of the sources for the change of Return on equity using DuPont Identity. ROE = (Net profit margin) * (Total asset turnover) * (Equity multiplier) Explain how the three components contributed to the change of return on equity. Industry 2016 2015 2014 2013 2012 Net profit margin 8.81 3.0 3.45 3.91 7.20 3.13 Total asset turnover _ 1.89 1.8 1.82 1.70 1.60 Equity multiplier _ 1.45 1.35 1.41 1.44 1.59 Return on equity 41.72 8.22 8.38 10.03 17.63 7.96 The three components have produced ROE which is lower than the ones provided by the financial reports. 1-4. Comment the track records of free cash flow over the recent years? Using Morningstar.com  cash flow statement  Free cash flow = Operating cash flow – Capital expenditure Cash Flow Ratios 2016 2015 2014 2013 2012 Operating Cash Flow Growth % YOY — -41.58 -74.34 77.82 -3.40 Free Cash Flow Growth % YOY — 208.11 -97.86 85.47 -7.18 Cap Ex as a % of Sales 0.43 0.70 2.06 0.33 0.46 Free Cash Flow/Sales % -0.61 0.52 0.18 9.97 5.85 Free Cash Flow/Net Income -0.20 0.15 0.05 1.38 1.87 It can be seen from the above figures that Addus HomeCare Corporation has been registering irregular cash flow with one year running negative and another year having positive cash flow. Managers 2-1. Are profits high enough, given the level of sales? This can be explained by the Net profit margin Industry 2016 2015 2014 2013 2012 Net profit margin 8.81 3.0 3.45 3.91 7.20 3.13 It can be inferred from the above data that the management has been exhibiting declining operating efficiency which can be seen through the drop in profits. It's worrying that not only is the company’s net profit margin for 2016 which is 3% below way below the industry norm but also the company has exhibited declining trend since 2013 when the net profit margin was 7.20. 2-2. How well are the company's assets being employed to generate sales revenue? This is better explained by Asset turnover ratio outlined below; Industry 2016 2015 2014 2013 2012 Asset Turnover ratio _ 1.89 1.8 1.82 1.70 1.60 Based on this metric, Addus HomeCare Corporation is adequately employing the assets to generate sales revenue. The company has exhibited increasing Asset Turn over ration from 1.60 in 2012 to 1.89 in 2016. 2-3. Are receivables coming in too slowly? The Average Collection Period [(Average A/R ÷ Annual Sales) x 365] Industry 2016 2015 2014 2013 2012 Average A/R 50.97 44.79 38.60 37.43 47.58 Annual Sales 100 100 100 100 100 The Average Collection Period 186.0 163.5 140.9 136.6 173.7 The company takes over 120 days (4 months) to convert accounts receivable into cash. Technically, this is dangerous to the performance of the company. 2-4. Is too much cash tied up in inventories? The Inventory Turnover [Cost of Goods Sold Expense ÷ Average Inventory] industry 2016 2015 2014 2013 2012 The Inventory Turnover - - - - - The corporation does not have data on inventory given that it is service oriented corporation. 2-5. What is the breakeven revenue? It is important to note that the financial reports obtained from morninstar.com had VC and CFC in % which meant that the survival revenue was also obtained in terms of %. VC = Variable cost = cogs CFC = (Admin + marketing + other operating expense) + (interest expense) 2016 2015 2014 2013 2012 Admin + marketing (SG&A ) 21.02 20.92 19.76 18.85 18.98 other operating expense 1.66 1.44 1.22 0.81 0.83 interest expense 0.17 -0.22 -0.22 -0.18 -0.64 CFC 22.85 22.14 20.76 19.48 19.17 R = Revenue SR = Survival revenue = CFC / (1 – VC / R) The survival revenue is computed as outlined below; 2016 2015 2014 2013 2012 R-% 100 100 100 100 100 VC-% 73.52 72.89 73.24 74.53 73.78 CFC-% 22.85 22.14 20.76 19.48 19.17 SR 86.29 81.67 77.58 76.48 73.11 Ratio of R / SR 1.16 1.22 1.29 1.31 1.37 It is fortunate that the company is making profits considering the break-even analysis. However, with the deteriorating trend, the company may incur losses. Short-Term Creditors 3-1. Does this customer have sufficient cash or other liquid assets to cover its short-term obligations? The Current Ratio [Current Assets ÷ Current Liabilities] The Quick Ratio [Cash + Marketable Securities + A/R ÷ Current Liabilities] Industry 2016 2015 2014 2013 2012 Current Ratio 135.88 2.64 2.43 2.25 1.96 2.24 Quick Ratio 107.27 2.53 2.14 1.92 1.65 1.86 Addus HomeCare Corporation is able to pay its current liabilities by using its current assets only given that it has a current ratio of 2.64 as at 2016 and which has been improving since 2013. However, the health industry’s current ratio is way very high up to 135.88. The company also has a good standing in terms of meeting current liabilities without relying on inventory. This is exhibited through the quick ratio of 2.53 as at 2016 and has been improving since 2013. 3-2. How quickly does the prospective customer pay its bills? The Average Age of Payables [(Average Payable ÷ Net Purchases) x 365] Industry 2016 2015 2014 2013 2012 Average Payable 3.77 1.94 2.47 2.19 2.83 2.75 Net purchases - - - - - - The Average Age of Payables - - - - - Payable period 5.72 6.47 6.83 8.05 9.50 This question cannot be adequately answered since the net purchases can be determined from the financial statement. As earlier noted, the company is service oriented which means no significant inventory. However, it can be noted that the company has been considerably improving on how it pays its supplies given that the amount keeps reducing. It is even encouraging to note that it is way below industry standard, 3.77 as at 2016 when it recorded 1.94. Long-Term Creditors 4-1. As a potential or present long-term borrower, Debt-to-Equity (D/E) [Total Debt ÷ Total Equity] Industry 2016 2015 2014 2013 2012 Debt/Equity 471.52 0.14 0.01 0.02 - 0.17 From the above financial rations, it can be concluded that the company is more financially stable and is in a good position to borrow both now and in the near future. 4-2. Are the earnings and cash flow sufficient to cover interest payments and provide for some principal repayment? The Times Interest Earned (TIE) [Income + (Interest + Taxes) ÷ Interest Expense] The Cash Flow to Total Liabilities [Operating Cash Flow ÷ Total Liabilities] Industry 2016 2015 2014 2013 2012 The Times Interest Earned (TIE) 7.83 20.45 25.92 23.22 9.18 The Cash Flow to Total Liabilities - - - - - The time's interest earned has considerably reduced over time which is an indication of good performance and that the company is using less and fewer loans. Market 5-1. How is the financial performance priced by the financial markets? Price-book ratio = price per share / book value per share Price-earnings ratios = price per share / earnings per share 2016 2015 2014 2013 2012 Price per share - - - - - Book value per share - - - - -- Earnings per shares -% 1.96 -5.45 -36.42 143.66 _ Price-book ratio 2.7 1.9 2.2 2.2 0.8 Price – earnings ratio 52.4 21.7 23.6 21.4 8.3 It can be inferred from the above financial results that the company is well priced in the financial market. It is exciting to note that the price-book ratio and price-earnings ratio short almost double from 2015 to 2016. Summary 6-1. How to evaluate the overall financial profiles (ratios) of the company? • Addus HomeCare Corporation is NOT doing well as investment • that company has NOT adequately employed company assets as exhibited by the declining ROA, which is even below industry benchmark. • The cash flows are irregular • The company is exhibiting declining operating efficiency as seen from net profit margin • Addus HomeCare Corporation is adequately employing the assets to generate sales revenue. The company has exhibited increasing Asset Turn over ration from 1.60 in 2012 to 1.89 in 2016 • The company takes over 120 days (4 months) to convert accounts receivable into cash. • It is fortunate that the company is making profits considering the break-even analysis. However, with the deteriorating trend, the company may incur losses. • Addus HomeCare Corporation is able to pay its current liabilities by using its current assets only • The company also has a good standing in terms of meeting current liabilities without relying on inventory. • the company has been considerably improving on how it pays its supplies given that the amount keeps reducing 6-2. Was the price movement an accurate reflection of the change in the financial profile? YES. The price improvement can be attributed to improvement in some aspect of financial performance such as payable period, meeting its liabilities both long term and short term, and efficient use of assets among others. Is the stock over-priced or underpriced compared against the fundamentals (financial profiles)? It is neither of the two as the average true value is reflected. 6-3. Is the stock a good candidate to invest? Buy or Sell? By over 70%, the stock is good and I would advise the potential clients to buy.

Accounting
TutorMe
Question:

Prepare journal entries to record the following merchandising transactions of Blink Company, which applies the perpetual inventory system. (Hint: It will help to identify each receivable and payable; for example, record the purchase on July 1 in Accounts Payable—Boden.) Jul. 1 Purchased merchandise from Boden Company for $6,000 under credit terms of 1/15, n/30, FOB shipping point, invoice dated July 1. Jul. 2 Sold merchandise to Creek Co. for $900 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 2. The merchandise had cost $500. Jul. 3 Paid $125 cash for freight charges for the purchase of July 1. Jul. 8 Sold merchandise that had cost $1,300 for $1,700 cash. Jul. 9 Purchased merchandise from Leight Co. for $2,200 under credit terms of 2/15, n/60, FOB destination, invoice dated July 9. Jul. 11 Received a $200 credit memorandum from Leight Co. for the return of part of the merchandise purchased on July 9. Jul. 12 Received the balance due from Creek Co. for the invoice dated July 2, net of the discount. Jul. 16 Paid the balance due to Boden Company within the discount period. Jul. 19 Sold merchandise that cost $800 to Art Co. for $1,200 under credit terms of 2/15, n/60, FOB shipping point, invoice dated July 19. Jul. 21 Issued a $200 credit memorandum to Art Co. for an allowance on goods sold on July 19. Jul. 24 Paid Leight Co. the balance due after deducting the discount. Jul. 30 Received the balance due from Art Co. for the invoice dated July 19, net of discount. Jul. 31 Sold merchandise that cost $4,800 to Creek Co. for $7,000 under credit terms of 2/10, n/60, FOB shipping point, invoice dated July 31.

Shrutika R.
Answer:

Date Account Title and Explanation Debit Credit Effect on Net income Jul 1 Merchandise inventory $6,000 No effect Accounts payable - Boden $6,000 To record purchase of inventory Jul 2 Accounts receivable - Creek Co. $900 Sales revenue $900 Increase To record sale revenue Jul 2 Cost of goods sold $500 Decrease Merchandise inventory $500 To record cost of goods sold Jul 3 Merchandise inventory $125 Decrease Cash $125 To record freight charges on purchases Jul 8 Cash $1,700 Increase Sales revenue $1,700 To record sale revenue Jul 8 Cost of goods sold $1,300 Decrease Merchandise inventory $1,300 To record cost of goods sold Jul 9 Merchandise inventory $2,200 No effect Accounts payable - Leight Co. $2,200 To record purchase of inventory Jul 11 Accounts payable - Leight Co. $200 No effect Merchandise inventory $200 To record purchase returns Jul 12 Cash $900 − ($900× 2%) $882 Sales discounts $18 Decrease Accounts receivable - Creek Co. $900 To record collections of accounts receivable Jul 16 Accounts payable - Boden $6,000 Cash $6,000 − ($6,000 × 1%) $5,940 Merchandise inventory $60 Decrease To record payments towards accounts payable Jul 19 Accounts receivable - Art Co. $1,200 Sales revenue $1,200 Increase To record sale revenue Jul 19 Cost of goods sold $800 Decrease Merchandise inventory $800 To record cost of goods sold Jul 21 Sales returns and allowances $200 Decrease Accounts receivable - Art Co. $200 To record sales returns Jul 24 Accounts payable - Leight Co. $2,000 Cash $2,000 − ($2,000 × 2%) $1,960 Merchandise inventory $40 Decrease To record payments towards accoutns payable net of discount Jul 30 Cash $1,000 − ($1,000× 2%) $980 Sales discounts $20 Decrease Accounts receivable - Art Co. $1,000 To record collection of accounts receivable net of discount Jul 31 Accounts receivable - Creek Co. $7,000 Sales revenue $7,000 Increase To record sale revenue Jul 31 Cost of goods sold $4,800 Decrease Merchandise inventory $4,800 To record cost of goods sold

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