Case 1: Purchase Point Media Corporation (PPMC) - Accounting
i Need someone that is really good at accounting Senior Capstone: Business : Purchase Point Media Corporation (PPMC) Lesson 2 Overview This case is based on actual financial projections developed and provided by a publicly traded firm, Purchase Point Media Corporation (PPMC). Carefully examine the PPMC projections, which are presented in a sequence and format suitable for break-even calculation and analysis. After you calculate the break-even point, use additional, publicly available information to come to a decision with respect to market potential. The increase in the price per share of PPMC stock suggests that, over time, the market may have reacted to their results and analyses, using a comparable methodology. 2.1 Recognize the PPMC projections and the data associated with it in the presented case Case 1: Purchase Point Media Corporation (PPMC) READING ASSIGNMENT Case Background Purchase Point Media Corporation (Pink Sheets: PPMC) is what some refer to as a thinly traded “corporate shell.” The firm held patents in Page 1Copyright Penn Foster, Inc. 2019 Course Version: 1 the United States, Canada, United Kingdom, and Germany for a shopping-cart display device, but was a nonreporting and nonoperating entity. On March 18, 2002, PPMC reported its intention to sell these patents and related trademarks. The initial estimates suggested a stock price of nearly $2.50 per share, before related per-share deductions for sale-related broker’s commissions and legal fees. At the time of the news release, the firm’s stock was trading at $0.04 per share. In less than 60 days the stock was trading at more than $0.60 per share (Cataldo 2003, 55–60), for a 1,400 percent increase in price per share. (Note that investors and speculators alike would view this as a very risky investment, and the price per share for PPMC stock would be expected to fall short of or sell at a significant discount to the “anticipated” selling price for the firm’s intangible assets. See Arbel and Strebel 1982 and 1983; Arbel, Carvell and Strebel 1983; and Arbel 1985 for guidance on thinly traded or “neglected” firms.) While this initial news release attracted speculators, causing the stock price to rise, after months without any additional news releases, the stock price drifted down again. On August 20, 2003, PPMC again announced its intention to sell the firm’s intangible assets (Business Wire 2003). In the second announcement, PPMC management referred interested investors to their corporate Web site. Among the data provided, PPMC included a financial projection and other items they felt might be of Page 2Copyright Penn Foster, Inc. 2019 Course Version: 1 interest to potential purchasers of the firm’s intangible assets (see Exhibit 1, Purchase Point Media Corp. statement, which follows). To begin this case, review and comment on the “form” of the public disclosure circulated by PPMC. Then use the “substance” of this information to develop per-unit, sales-based contribution margins and break-even points for the first year of operations. Last, gather other publicly available information to determine the market feasibility of achieving its break-even point. PURCHASE POINT MEDIA CORP Projected Statement of Net Income For the first twelve months of operations Safe harbor statement under the private securities litigation act of 1995. This project statement of net income contains forward-looking statements, all such forward-looking statements are by necessity only estimates of future results and actual results achieved by this company may differ materially from these statements due to a number of factors. Both the Corporate house and Purchase Point Media Corp. assumes no obligation to update these forward-looking statements to reflect actual results. Changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risk before making investment decisions. Suite 100 -141 5th Ave., New York, NY. 10010 Page 3Copyright Penn Foster, Inc. 2019 Course Version: 1 CORPORATE HOUSE Purchase Point Media Corp., 141 5th Ave., Suite 1100, New York, NY 10010 Attention: Albert Folsom Dear Sirs: We have prepared the attached Projected Statement of Net Income for a twelve Month period for Purchase Point Media Corp., (The Company") from information supplied to us by management and from various other periodicals and reports. These figures do not include start-up and development costs. We have made basic assumptions in compiling the information given to us in that revenue will commence to be generated once the Company's patented display panels have been installed in 1,200 stores, and a total of 1,200 stores subsequent to the first month will be added to the Company's list of clients each month thereafter for a total of 14,400 stores in year one. The Projected Statement of Net Income has been prepared in accordance with generally accepted accounting principles except that no consideration has been given for Federal and State taxes which, had the taxes been calculated at the statutory rates in effect, would have had an impact on net income. Page 4Copyright Penn Foster, Inc. 2019 Course Version: 1 If the Company decides to remain with only 14,400 stores during its second year of operations and does not expand at all, projected gross revenue will increase to approximately $150,000,000. If you have any questions regarding the above please feel free to contact us at any time. Yours very truly; Corporate House Per: /S/ _________________ Richard T. Hethey, Director, Attachment PURCHASE POINT MEDIA CORP. NOTES TO THE PROJECTED STATEMENT OF NET INCOME 1. Advertising Revenue It is expected a minimum of 14,400 stores will be using the Company's unique display panel by the end of the first year. The Company expects to affix its display panel on 100% of the grocery carts or the equivalent of 200 carts per store. Month Number of Stores at End of the Month Gross Advertising Revenue Monthly Gross Advertising Revenue by Quarter (i) (ii) 1st 1200 1,620,000 2nd 2400 3,240,000 Page 5Copyright Penn Foster, Inc. 2019 Course Version: 1 3rd 3600 4,860.000 $ 9,720,000 4th 4800 6,480,000 5th 6000 8,100,000 6th 7200 9,720.000 24,300,000 7th 8400 11,340,000 8th 9600 12,960,000 9th 10800 14,580,000 38,880,000 10th 12000 16,200,000 11th 13200 17,820,000 12th 14400 19.440.000 53,460,000 Total $ 126,360,000 i. As mentioned above, 14,400 individual supermarkets have been selected for the first year of operations. The estimate assumes 1,200 new stores each month subsequent to the initial opening of 1,200 stores in the first month. The Company required a minimum of 300 stores in the first Page 6Copyright Penn Foster, Inc. 2019 Course Version: 1 month to qualify for contracting with advertising agencies since they require a $5,000,000,000 annual sales figure from the companies they will be advertising with. ii. Statistics indicate there are on the average 60,000 customers per month shopping at any given supermarket in the United States. The cost to the advertiser is $2.25 per 1,000 customers, which equates to $135.00 per month for display on the advertising panels. The advertiser is under a quarterly contractual agreement. With 10 advertisers on a display panel each supermarket will provide a gross revenue of $1,350 per month. With 1,200 stores coming on stream in the first month, the total gross revenue is projected at $1,620,000. 2. Amortization of Display Panels The display panel is manufactured using an injection mold process. The end product is made of heavy durable plastic. In addition to the display panel itself, fastenings are an integral part of the assembly of the panel on the grocery cart. Total manufacturing and installation cost is $6.22 per display unit. It is assumed the display panel will be affixed to 100% of the carts in the supermarket. Statistics show the average supermarket uses 200 grocery carts. Therefore, 200 carts will have the Company's panel installed. It is assumed the panels will have a life expectancy of 5 years or longer. The total cost in the first year of operations is $17,913,600. For conservative purposes, amortization of the display panels is taken over a two- Page 7Copyright Penn Foster, Inc. 2019 Course Version: 1 year period rather than a five-year period. Assuming a two-year amortization based on the straight-line method, the annual expense will be $8,956,800. Therefore, in the first year, each quarter will bear the cost of $2,239,200 3. Printing of Inserts The advertising agreement with an advertiser will be for a three-month period after which the advertiser is free to renew or discontinue the service. If one advertiser decides not to renew the agreement or is willing to renew but wishes to use another product, the entire insert must be reprinted. This assumes that every quarter a new set of inserts must be printed. The cost to print each of the inserts is $0.11, which covers freight and spoilage. The figure of $0.11 is conservative based on quotes received by management which indicates 300,000 inserts can be printed on #50 Smooth White Offset paper in four colors one side process for $8,454 or $0.03 per insert. The following analysis determines the expense each month and by quarter for printing charges. Month New Grocery Carts With Advertising Renewal Printing Total Per Month Quarterly Total Quarterly 1st 240,000 - 240,000 2nd 480,000 - 480,000 3rd 720,000 - 720,000 1,440,000 158,400 Page 8Copyright Penn Foster, Inc. 2019 Course Version: 1 4th 960,000 240,000 1,200,000 5th 1,200,000 240,000 1,440,000 6th 1,440,000 240,000 1,680,000 4,320,000 475,200 7th 1,680,000 240,000 1,920,000 8th 1,920,000 240,000 2,160,000 9th 2,160,000 240,000 2,400,000 6,480,000 712,800 10th 2,400,000 240,000 2,640,000 11th 2,640,000 240,000 2,880,000 12th 2,880,000 240,000 3,120,000 8,640,000 950,400 Total 20,880,000 $ 2,296,000 4. Replacement Due to Vandalism Regardless of the security precautions taken by the individual supermarkets, vandalism, and theft will occur. This will represent a cost to the Company since it cannot be charged to either the supermarkets or advertisers. Management is currently seeking insurance, which will lessen this expense, but for conservative purposes, no consideration has been given to recovery of these costs by way of insurance benefits. Page 9Copyright Penn Foster, Inc. 2019 Course Version: 1 It is estimated vandalism will affect 5% of the display panels. This is relatively high but until facts are known a conservative approach has been adopted. Vandalism will occur in two different fashions: first, by placing graffiti on the display unit and, secondly, by smashing the unit in some way. Both will result in the replacement of the unit. No consideration has been given for grocery carts that have been stolen from the supermarkets since until the cart is located no replacement of the display unit will occur and might not be required. The panels are fully recyclable and therefore will have the effect of reducing the overall cost of manufacturing the pane. No recovery from this source has been considered in this projection of net income during the twelve-month period. Since there are 2,880,000 panels installed at the end of the first year, this would mean 144,000 would require a replacement panel. Assuming an even distribution by quarter over the year, each quarter would result in 36,000 panels being replaced at a cost of $223,920 and the printing of inserts will add an additional cost of $3,960 for a total replacement cost of $227,880. 5. Cart Rentals to Supermarkets The Company will enter into a five-year contract with each supermarket chain to ensure longevity for its advertisers. Under this contractual commitment, the Company will pay the supermarket chains 10% of the gross Page 10Copyright Penn Foster, Inc. 2019 Course Version: 1 revenue each quarter for the rental of space on a grocery cart. 6. Marketing, Sales, and Commissions The Company has contracted with a media company to handle all marketing materials and advertising, their budget for the first year is $2,500,000. And has contracted with an advertisement sales company that is responsible for booking the advertisements, their budget for the first year is $2,000,000. The Company has allowed for a 15% Commission to be paid to the advertiser in the form of a discount or in some cases paid to their ad agency of record. Quarter Marketing & Advertising Bookings Adverstisers 15% Commissions Total 1st $ 625,000 $ 500,000 $ 1,458,000 $2,583,000 2nd 625,000 500,000 3,645,000 4,777,000 3rd 625,000 500,000 5,382,000 6,957,000 4th 625,000 500,000 8,019,000 9,144,000 $ 2,500,000 $2,000,000 $18,954 000 $23,454,000 7. Grocery Store Operations The Company has contracted with ITG Retail Services Group LLC., a company that has relationships with most of the leading grocery chains in North America. ITG's responsibilities include signing up the various grocery chains (see note 5 above), installing the advertisement display device and changing the advertisements inserts. The cost to perform this service is as follows: Signing up the store $ 1.00 per cart Page 11Copyright Penn Foster, Inc. 2019 Course Version: 1 Per annum, store contract fee $0.50 per cart Installation of Ad Holder $2.00 per cart Changing the Advertisement $0.50 per cart Based on 240,000 carts being commissioned each month from 1,200 new stores being introduced into the system, there is a charge for signing up the stores of $240,000 per month or a quarterly charge of $720,000. Based on a per annum store contract fee for the number of carts employed each month, there is a charge of $120,000 per month or $360,000 per quarter. The installation of Ad Holders is $2.00 per cart. With 1,200 new shores using the Company's advertising system each month and each store has 200 shopping carts in use this results in 240,000 installations each month. This would result in $480,000 being paid each month to the Distribution company performing this service for the Company. It is estimated that advertising will be changed on a quarterly basis. As noted above the cost to change the advertisements is estimated at $0.50 per Ad Holder. The following represents the cost to change the advertisements: Month Number of new Cart at End of Month Number of new Cart to be Changed Each Quarter Monthly Cost to Change Advertising Gross Quarterly Expenses Page 12Copyright Penn Foster, Inc. 2019 Course Version: 1 lst 240,000 - - 2nd 240,000 - - 3rd 240,000 - - $ - 4th 240,000 240,000 120,000 5th 240,000 240,000 120,000 6th 240,000 240,000 120,000 360,000 7th 240,000 480,000 240,000 8th 240,000 480,000 240,000 9th 240,000 480,000 240,000 720,000 10th 240,000 720,000 360,000 11th 240,000 720,000 360,000 12th 240,000 720,000 360,000 1,080,000 $2,160,000 The total cost of maintenance and service each quarter based on the above figures is as follows: Page 13Copyright Penn Foster, Inc. 2019 Course Version: 1 Quarter Signing up Fee Store Contract Fee Installation of Ad Holders Changing of Adverstisements Total Expenses 1st $ 720,000 $ 360,000 $ 1,440,000 $ - $2,520,000 2nd 720,000 360,000 1,440,000 360,000 2,880,000 3rd 720,000 360,000 1,440,000 720,000 3,240,000 4th 720,000 360,000 1,440,000 1,080,000 3,600,000 TOTAL $2,880,000 $ 1,440,000 $ 5,760,000 $ 2,160,000 $12,240,000 8. Accounting and Audit The accounting functions required are as follows: Ensuring the revenue derived from each advertiser and/or ad- agency is received and deposited on a timely basis; Administering monthly payroll, creditor invoices and expense advances; Preparation of quarterly financial statements to meet listing requirements; and Ensuring adherence to budgetary requirement. It is assumed an accountant will be hired initially to set up the accounting, payroll and other office functions. This person will be paid $6,000 per month, which will include the preparation of all Page 14Copyright Penn Foster, Inc. 2019 Course Version: 1 filings with regulatory bodies. It is assumed a junior clerk will be hired in the last quarter to assist with filing and other work around the office. This junior clerk might be a part-time accountant initially and later in the second year would be hired full time. Salary compensation for this clerk will be $2,000 per month in the last quarter. Therefore, the first three-quarters will bear a cost of $ 18,000 and the last quarter will have a cost of $24,000. In addition, to the estimate of salaries, the will be a cost for the year-end audit to meet the listing requirements of regularity bodies. It is estimated this audit will cost the Company approximately $15,000. 9. Advertising The Company will advertise extensively in trade journals, newspapers and other media such as the following: Leasing top 10 Advertisement Agency magazines in the United States which specialize in the food and grocery industry and are distributed to the top Ad-Agencies monthly; Packages of advertising material to the top of grocery store chains in the country; Brochures and pamphlets will be sent to the 3 top executives in 35 grocery chain stores in the United States; Advertising packages will be sent to the top 100 food manufacturing companies which will be directed towards the advertising executives; Page 15Copyright Penn Foster, Inc. 2019 Course Version: 1 Other media to be identified as required. The cost of printing and assembling of brochures and pamphlets is estimated to be $35.00 each. A minimum of 1,500 brochures will be used during the first year for a total cost of $52,500. For simplicity, this cost will be spread evenly over the four quarters. Advertising in magazines and periodicals is a major cost but this form of advertising will alert advertisers and their agents to the services being offered by the Company. It is estimated each article in a magazine will cost approximately $3,500. If advertisements are placed in the top 10 Ad-Agencies magazines, each results in a monthly cost of $35,000 or $105,000 for each quarter. Total advertising costs for each quarter, including brochures and pamphlets, is $118,125. 10. Automobile Expenses Automobiles will be leased for the top three Executives at $6,000 per quarter. 11. Bank Charges Bank charges will represent the transfer of funds from various advertisement agencies in payment on behalf of their clients, monthly service charges, etc. It is assumed this cost will be $500 per quarter. 12. Entertainment and Promotion Entertainment and promotion mainly covers the cost of "wining and dining" advertisement agents and other media personnel and on occasion holding seminar-style meetings. Since money must be spent in this area to create a willingness to use the Company's display panels, it is estimated that $10,000 a month will be allotted. This results in Page 16Copyright Penn Foster, Inc. 2019 Course Version: 1 $30,000 a quarter. 13. Insurance Insurance coverage will have to be obtained for general liability, office contents, directors' liability insurance and gross profit protection. Additional insurance will be carried for protection in the event a malfunction of the display unit causes harm. The chances of this ever happening is extremely remote. Insurance coverage is estimated $25,000 per quarter. 14. Legal Legal costs are associated with preparation of advertising contracts with the supermarket chains, advertising agencies and advertisers themselves as well as employee contracts and various other contracts as required. In addition, legal services will be needed for the filing of the documents with the regulatory bodies. Legal expenses will vary depending upon the needs of management. For conservative purposes, legal expenses have been assumed at $10,000 per month or $30,000 per quarter. 15. Management Fees Management fee comprises the following individuals: Position Annual Remuneration Quarterly Remuneration Monthly President $ 120,000 $ 30,000 $ 10,000 Vice-President - Marketing 9,000 22,500 7,500 Treasurer/Controller 80,000 20,000 6,667 Total $ 290,000 $ 72,500 $ 24,167 16. Office and Sundry Office and sundry expenses comprise photocopying paper, office supplies, envelopes, binders, coffee, Page 17Copyright Penn Foster, Inc. 2019 Course Version: 1 pens and pencils, computer tapes and paper, postage, filing cabinets, adding machines and other items of lesser dollar value which are normally required in an office. Initially, the cost of starting two offices; one in the eastern part of the United States and the other in the western part, which will require a greater outlay than in subsequent months. Therefore, the following has been budgeted by quarter: First Quarter $ 15,000 Second Quarter $ 9,000 Third Quarter $ 12,000 Fourth Quarter $ 15,000 17. Public Relations Public relations are a high priority for management. Public relations firms will be hired to search for new institutional investors and to prepare the required information to be circulated monthly to current and potential shareholders. There will be a constant need to inform the public-at-large and private institutions of the Company's achievements and its direction in the future. It is projected, as a minimum, the quarterly charge for public relations will be approximately $100,000. In future years with more stores being added to the client base, the public relations budget will be increased substantially. 18. Rent The Company will require two offices; one located in the East and the other located in the West. The offices will not have to be large in space since limited personnel will be required to manage the operations. Nevertheless, the executives will each Page 18Copyright Penn Foster, Inc. 2019 Course Version: 1 require an office, a boardroom for meeting customers and advertising agents, an office for accounting, a reception area, storage facilities and a general working area. The building does not have to be a class A rating and can be located outside of the busier section of a city. Therefore, estimated rent expenses each month will be $5,000 for each of the two buildings for a total of $10,000 per month. 19. Salaries and Benefits The accountant's and assistant accountant's salaries have been covered under Accounting and Auditing noted fewer than 8 above. There are employees other than the aforementioned; being two receptionists, two girl fridays and two account representatives to sell the advertising. Other employees will be hired either on a part-time basis or else as demand requires. The estimated cost of the above-noted employees is as follows: Personnel Monthly Salary (i) Employee Benefits (ii) Total Quarterly Executive Secretary $ 3,000 $ 600 $ 3,600 $ 10,800 2 Girl Fridays $ 4,000 $ 800 $ 4,800 $ 14,400 2 Receptionists 3,000 600 3,600 10,800 2 Account Representatives 10,000 2,000 12,000 36,000 Total $ 72,000 (i) Monthly salaries are distributed as Fallows: Executive Secretary $ 3,000 per month Page 19Copyright Penn Foster, Inc. 2019 Course Version: 1 Girl Friday $ 2,000 each per month Receptionist $ 1,500 each per month Accountant Representative $ 5,000 each per month (ii) It is assumed employee benefits will be 20% of the salaries paid. The type of benefits available to the employees will be dental, extended health and life insurance. The Company will absorb one half the cost and the employees will be responsible for contributing from their salaries the balance. 20. Stationery and Printing Office stationery will be purchased during the first quarter in sufficient quantities to last the entire year. Said cost is estimated at $10,000. Printing expense will comprise mainly office photocopying since the brochures and pamphlets are covered in section 9 - Advertising above and the inserts are covered under section 3 - Printing of Inserts. 21. Telephone and Fax Telephone and fax charges will be relatively constant over the year. For conservative purposes, telephone charges for the two offices are estimated at $3,500 per month or $10,500 per quarter. 22. Travel and Accommodation Travel cost for the executives and account representatives is relatively high due to the nature of the business. Initially, the main travel will be based in the United States but eventually, consideration will have to be given to extending travel to include the European countries where the Company has obtained patent protection for its display panel. It is Page 20Copyright Penn Foster, Inc. 2019 Course Version: 1 anticipated this will occur in the last quarter of the year. As the year progresses, traveling in the United States will increase. Therefore, it is anticipated travel costs will be $10,000 a month for the first quarter, increasing by 100% for each of the second and third quarters. In the last quarter, it is anticipated to travel locally in the United States will amount to $35,000 per month with the added cost each month of trips to Europe. The European trips are estimated to add an addition $10,000 per month to the travel costs. Therefore, travel costs by quarter are calculated as follows: First Quarter $ 30,000 Second Quarter 60,000 Third Quarter 90,000 Fourth Quarter 135,000 These attached schedules are an integral part of this Projected Statement of Net Income Supplemental Information Brand Name versus Generic Stocks Brand Name Stocks Generic Stocks Less information risk More information risk Higher quality of information Lower quality of information Page 21Copyright Penn Foster, Inc. 2019 Course Version: 1 Large sample of consensus estimates Small or no sample of consensus estimates Monitoring service or fee No monitoring service or fee Lower return Higher return Higher price (premium) Lower price (discount) Lower uncertainty Higher uncertainty More consistency Less consistency Graphs Supplemental information is provided in. The first graph illustrates the price per share for PPMC common stock for the time period August 20, 2003, through September 27, 2004. The latter date represents the specific event when PPMC filed their 10QSB. The second graph compares the PPMC price per share with comparable index measures, such as the Dow Jones Industrial Average, Standard and Poor’s 500, NASDAQ, and Russell 2000 indices, for the same period of time. An image of a graph depicting the price per share for PPMC common stock, August 20, 2003 through September 27, 2004, when PPMC filed their 10QSB. Page 22Copyright Penn Foster, Inc. 2019 Course Version: 1 The price per share for PPMC common stock, August 20, 2003 through September 27, 2004, when PPMC filed their 10QSB An image of a graph depicting the comparison of the PPMC price per share over comparable index measures, such as the Dow Jones Industrial Average, Standard and Poor’s 500, NASDAQ, and Russell 2000 indices, for a period from August 20, 2003 through September 27, 2004. Page 23Copyright Penn Foster, Inc. 2019 Course Version: 1 Comparison of the PPMC price per share over comparable index measures, such as the Dow Jones Industrial Average, Standard and Poor’s 500, NASDAQ, and Russell 2000 indices, for the same time period References Arbel, A. 1985. Generic Stocks: An old product in a new package. The Journal of Portfolio Management 68: 4–13. Arbel, A., Carvell, S., and Strebel, P. 1983. Giraffes, Institutions and Neglected Firms. Financial Analysts Journal 39: 57–63. Arbel, A., and Strebel, P. 1982. The Neglected and Small Firm Effects. The Financial Review: 201–18. Arbel, A., and Strebel, P. 1983. Pay attention to neglected firms! The Page 24Copyright Penn Foster, Inc. 2019 Course Version: 1 Journal of Portfolio Management 9: 37–42. Business Wire. 2003. Purchase Point Media Corp.: Corporate Update (August 20). Cataldo, A. Information Asymmetry: A Unifying Concept for Financial and Managerial Accounting Theories (including illustrative case studies). Studies in Managerial and Financial Accounting 13, 2003. Oxford, England: Elsevier Science (JAI). Series Editor: Marc Epstein. Project Requirements The project requires three steps to be presented. Step 1 – Identify Form and Substance Errors. Step 2 – Compute the Purchase Point Media (PPMC) break-even points in terms of carts and stores. Step 3 – Determine the number of grocery stores for various food chains. In one Word document, provide individual sections for each Step. This Word document along with the Excel file (described below for Step 2) will be uploaded when you click on the Take Exam button on your Running head: PURCHASE POINT MEDIA CORPORATION 1 PURCHASE POINT MEDIA CORPORATION 2 Your Purchase Point Project is being returned for the following reasons: It is not unusual to have the project returned as not graded. It is evident that you have done a lot of work, which is good. The feedback is being provided to help you “tweak” what you have done in order to help meet the requirements for the project. If you are don’t understand something about what needs to be done, then do not hesitate to telephone and speak with me. Students who do call, find it much easier to complete the project because they get a better understanding for what needs to be done as opposed to reading the written word and being unsure due to “interpretation”. Read and apply both the feedback and the comments provided below. The project requires three steps to be presented. Step 1 – Identify Form and Substance Errors. Step 2 – Compute the Purchase Point Media (PPMC) break-even points in terms of carts and stores. Step 3 – Determine the number of grocery stores for various food chains. In one Word document, provide individual sections for each Step. This Word document along with the Excel file (described below for Step 2) will be uploaded when you click on the Take Exam button on your Student Portal to submit your project (described under the “Submitting Your Assignment” later in the instructions). For Step 1: Revisit this step for errors. Here is an example of how you’ll present both the Form and Substance errors. Summary of Form Errors for the PPMC Report 1. Location: The first page of Exhibit 1, the last sentence of the first paragraph states “You should independently investigate and fully understand all risk before making investment decisions.” Location should be in the form of Page number and/or note number, paragraph number, sentence number and include the sentence or portion thereof so that it is identifiable as to what you are referring to. Error: The word risk is singular. It should be plural. An Error is what is wrong with the grammar, spelling, and punctuation or formatting. Correction: It should have been written “You should independently investigate and fully understand all risks before making investment decisions.” Instead of having students write or rewrite the entire Exhibit, the correction shows how the Exhibit should have been written. If the correction is not correct, there will be a deduction. · For this step, you are looking at it from the perspective of being handed an Exhibit and you are to “proof read” it for English Composition – grammatical, punctuation, spelling - and formatting errors (font size/style, bold text, alignment, etc.). You are not rewriting it based upon how you would write it – your writing style. You are only correcting it. You are not changing the “content” of the Exhibit, only correcting it. · There are more than 30 Form errors. You have some control over how many of the 30 points you will receive for this step. As an example, if you submit 37 errors and say 13 are incorrect, you will receive 24 points (37 – 13 = 24). If you submit only 30 errors and get 13 incorrect, you will receive 17 points (30 – 13 = 17). The more errors you provide within reason, the better your chances of receiving the 30 points for this step. · When it comes to Form errors, if one sentence, heading, or whatever, has – as an example, three things wrong with it - then that is one Form error and not three. When you make the correction for that sentence, it should be corrected in its entirety. For example, if a heading should be bold, has the incorrect font and is spelled incorrectly, this should not be shown as three errors. It should be shown as one error with the three corrections in it. The heading for the Substance Errors should be “Summary of Substance Errors for the PPMC Report”. · Substance errors are errors with the “math” throughout the tables in the Exhibit. “Substance” refers to the figures and data that are being reported and making sure the math is correct going both across the tables and down the tables. Identify the obvious errors or problems first by focusing on the addition or math errors Do not take this step lightly. The data and figures found in the report are used to calculate the beak-even analysis for Step 2. As presented, the data is incorrect making the break-even analysis incorrect. Therefore, it is important that you find “all” of the substance errors and correct them as these corrected figures will be what you use to make the break-even calculations for Step 2. There are between 3 and 10 Substance Errors. Substance errors are simply doing the math in the tables. It is not interpreting the notes as to what should go in the tables. (You are not provided with the “details” to decide whether the information provided in the notes are correct in order to make up the figures in the tables.) You are only “correcting” the Exhibit and not determining its contents. For Step 2: Recheck your work as the breakeven points for the carts and stores are incorrect. · Be sure to take into consideration the above Substance Errors that you found. · Pay attention to the comments that are provided on the spreadsheet. · Think about how you are interpreting the information in the notes for the Exhibit. · Make sure the “math” is correct going both across the rows and down the columns and don’t just rely upon formulas in cells. For Step 3: There should be a table with only three columns in it. It should look exactly like the table in the instructions. Along with Table 1, a Works Cited page needs to be included for Step 3. Work and/or figures that are not your own need to be cited as part of a paper. If… 1) no citations are provided 2) the citations are not properly formatted, or 3) the web address provided does not take the reader to where the figure quoted is to be found, This is “Plagiarism” which is unacceptable at Penn Foster or in the workplace and the project receives a grade of 1. · There should be 25 individual citations - one citation for each figure. There should not be more than one citation for the number provided. · There should be a correctly formatted citation for each figure for the number of stores for the grocery store chain. This is standard for English Composition and should follow APA formatting. If you do not remember how to make a properly formatted APA citation, go to the Purdue OWL (Online Writing Lab) website by doing the following: 1) do a search on the Internet for “Purdue OWL” and go to the homepage 2) in the menu on the left, click on “Research and Citation” 3) from the drop down menu click on “APA Style” 4) then click on “APA Formatting and Style Guide” 5) finally, select “Reference List: Electronic Resources Alternatively, go to Penn Foster’s Writer’s Block (http://pflibrary.pennfoster.edu/writersblockhomepage) or telephone and speak with an English instructor to refresh your memory on how to make a proper citation. · The web address provided for the citation should take the reader directly to the web page where the number of stores can be found. The reader should not have to search for your information. Do not provide a generic web address such as the homepage of a web site unless the actual number of stores is on that web page. Therefore, check your web addresses by making them links and clicking on them to make sure they are working properly and taking the reader the where the correct figure can be found. If when clicking on a link that goes to a page other than where the figure you provided in the table can be found, this is Plagiarism and warrants a grade of 1. Most of the number of stores are not correct. The instructions advised against using web sites such as Yahoo Finance, Marketbeat, Nasdaq, Bloomberg, referenceforbusiness.com, statista.com, Google Finance, InvestSnips, Investopedia, Wikipedia, newspaper articles, etc. when possible. This step requires doing “research” and not just doing a search on the Internet. More research is required. Using your own research skills and abilities, determine the number of grocery stores for each store chain. How you go about doing this is up to you and your research skills. Here is what you are looking for as far as the number of stores is concerned: · You are looking for the most “current” information. However, current does not mean today. For example, if store A (which has 10 stores) took over store B (which had 3 stores) in a merger, then B is no longer in business. The number of stores for A will be 13 as of today because it is still in business. The number of stores for B will be 3 which is how many it had before the merger. That is the most current for B – not zero. As another example, if a store declares bankruptcy, it all depends upon the bankruptcy status. If the store is in Chapter 11, which is reorganization then the number of stores – say – 57 – will be the current information. If the store is in Chapter 13, which is a closing of the business, then the number of stores will be zero. Be aware that the “solution” to the number of stores in the table is kept current – “as of today.” But, that does not mean that data will all be “as of today.” It is possible that the most current information might be 2015 or 2016. It all depends upon your research and what is available. Finding the correct information is the purpose behind doing research. One other thing to watch out for in doing your research is a “name change.” If a store changes its name, then list both the old name and the new name and the current information available for the number of stores. · You should rarely use third party sites as these do not have the most current and accurate information. You should use information from the business web site, SEC filings, Annual Reports, etc… for the most credible, relevant and current information. This is not to say that news articles should not be used. It all depends upon the “relevancy” of the article as to the current situation. Reference the Excel spreadsheet for Step 2 in the Word document. No other wording is necessary for this step in the Word document. Include the spreadsheet as a separate file when submitting the project. Please rework and resubmit the project for grading.. Purchase Point Media Corporation Step 1: Summary of Errors in the Substance of the PPMC Report Organizations should prepare their accounting reports in a flawless way. This is to say that the accounting reports should neither contain material misstatements nor ambiguity during preparation (Deegan, 2013). Unlike in the case of Enron Corporation and WorldCom where the financial statements lacked substance, Purchase Point Media Corporation’s financial statement is not well written. 1. Location: The second sentence of the induction part of the report states that “This project statement of income contains forward looking statement” (Cataldo, Oehlers & Pelfrey, nd, pg 13). Error: The word “Project” (Cataldo, Oehlers & Pelfrey, nd, pg 13) is a typo. It should be “Projected” Correction: It should be “The projected statement of net income.” Even so, “Projected statement of net income is not a conventional term in accounting.” 2. Location: In the third sentence of the introduction part of the report the author wrote “Corporate house” (Cataldo, Oehlers & Pelfrey, nd, pg 13). Error: The first word appears to be the organizations name and is capitalized. Yet, the second word is not capitalized and it should as it is part of the name of the organization Correction: Corporate House 3. Location: In the salutation part, the author addresses users or readers as “Dear Sirs.” Error: There is nothing like “Dear Sirs” (Cataldo, Oehlers & Pelfrey, nd, pg 13). Correction: “Dear sir” 4. Location: In the second paragraph of the letter, the author indicates that “We have made basic assumptions in compiling the information given to us.” (Cataldo, Oehlers & Pelfrey, nd, pg 13). Error: The author has failed to mention the assumptions Correction: He or she should mention the basic assumptions in the report which he or she has failed to do so. 5. Location: The author, in the second paragraph of the letter, points out that the organization will only start generating revenues once the firm’s patented displays are installed in the 1,200 stores (Cataldo, Oehlers & Pelfrey, nd). Error: This is a contravention of accounting concept for revenues. Correction: The accounting for revenues concept asks for the recognition of revenues on accrual basis (Khan& Mayes, 2009).  6. Location: In the conclusion part of the letter the author writes, “Yours very truly” (Cataldo, Oehlers & Pelfrey, nd, pg 13). Error: “Yours very truly” is a wrong statement for conclusion. Correction: Yours Sincerely 7. Location: Note 6 of Purchase Point Media Corporation’s report has a transposition error and a mathematical error. Error: Specifically, there is a mathematical error in the total section of the second quarter and a transposition error under the 15 percent commission’s column of the third quarter. Correction: The total amount in the second quarter should be 4,770,000 United States dollars rather than 4,777,000 United States dollars. The 15 percent commission figure should be 5,832,000 dollars instead of 5,382,000 dollars Step 2: Contribution Margin, Net Operating Income and Break Even Points (Refer to the attached spreadsheet) Step 3: Step 3: Table 2 Stock Ticker No. of Stores Firm Name KR 2,782 (statista, 2018) Kroger ABS 2,328 Albertson’s SWY 1,694 (Statista, 2018) Safeway AD. AS 6,640 (Statista, 2018) Ahold SVU 5,899 (Statista, 2018) SUPERVALU WINN 495 Winn-Dixie Stores PUSH 1,200 (Fotune 500) Publix Super Markets GAP 320 (Forbes, 2018) Great Atlantic & Pacific SFS 323 (Bloomberg, 2018) Smart & Final IMKTA. O 201 (Reuters, 2018) Ingles Markets BSI 431 (SEC, 2017) Blue Square-Israel PTMK 300 Pathmark RDK 220 (Bloomberg, 2015) Ruddick WFM 470 (Statista, 2018) Whole Foods Market WMK 204 (Supermarket News) Weis markets MARSB 18 (Indianapolis Business Journal, 2017) Marsh Supermarkets NAFC 1,500 (Bloomberg, 2018) Nash Finch FRSH 70 Fresh Brands OATS 110 Wild Oats Markets SPTN 480 Spartan Stores EGLE 0 went into bankruptcy Eagle Food Centers GRI 31 Gristede’s Foods VLGEA 29 (Bloomberg, 2018) Village Super Market FMS 34 Foodarama Supermarkets ARDNA 17 (Business Wire, 2013) Arden Group Total 16,195 References Cataldo II, A. J., Oehlers, P. F., & Pelfrey, C. S. (nd) Senior Capstone: Business. Retrieved from. https://studydaddy.com/attachment/47798/azzsyhlkpx.pdf Deegan, C. (2013). Financial accounting theory. Sydney, Australia: McGraw-Hill Education. Fortune 500. (2018).Publix Supermarkets. Retrieved from. http://fortune.com/fortune500/publix- super-markets/ Khan, A., & Mayes, S. (2009). Transition to accrual accounting. Washington, DC: International Monetary Fund. Statista. (2018). Number of stores operated by Kroger or its subsidiaries as of February 2018, by category. Retrieved from. https://www.statista.com/statistics/717760/kroger-operation- stores/ Statista. (2018). Safeway's total number of stores worldwide from 2007 to 2013. Retrieved from. https://www.statista.com/statistics/241228/total-number-of-stores-of-safeway/ Sheet1 Note M1 M2 M3 M4 M5 M6 M7 M8 M9 M10 M11 M12 1st 1st 2nd 3rd 4th 1st Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year Qtr Qtr Qtr Qtr Year Stores 1 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 1,200 14,400 3,600 7,200 10,800 14,400 14,400 Multiply by 200 carts 3 240,000 240,000 240,000 240,000 240,000 240,000 240,000 240,000 240,000 240,000 240,000 240,000 2,880,000 720,000 1,440,000 2,160,000 2,880,000 2,880,000 Total Carts 3 240,000 480,000 720,000 960,000 1,200,000 1,440,000 1,680,000 1,920,000 2,160,000 2,400,000 2,640,000 2,880,000 2,880,000 720,000 1,440,000 2,160,000 2,880,000 2,880,000 Multiply by Revenue per cart 1 6.75 6.75 6.75 6.75 6.75 6.75 6.75 6.75 6.75 6.75 6.75 6.75 6.75 9,720,000.00 24,300,000.00 38,800,000.00 53,460,000.00 126,360,000.00 Total Revenues 1 1,620,000 3,240,000 4,860,000 6,480,000 8,100,000 9,720,000 11,340,000 12,960,000 14,580,000 16,200,000 17,820,000 19,440,000 126,360,000 9,720,000 24,300,000 38,880,000 53,460,000 126,360,000 Variable Costs (VC) Amortization (2 year S/L) Burcicki, Jim: While amortization in its normal sense would be considered a FC, it is considered a VC here because the number of carts is variable even though we are using an average of 200 carts as the basis. 2 746,400 746,400 746,400 746,400 746,400 746,400 746,400 746,400 746,400 746,400 746,400 746,400 8,956,800 2,239,200 2,239,200 2,239,200 2,239,200 8,956,800 Printing 3 240,000 480,000 720,000 1,200,000 1,440,000 1,680,000 1,920,000 2,160,000 2,400,000 2,640,000 2,880,000 3,120,000 20,880,000 1,440,000 4,320,000 6,480,000 8,640,000 20,880,000 Replacement (even distribution) 4 75,960 75,960 75,960 75,960 75,960 75,960 75,960 75,960 75,960 75,960 75,960 75,960 911,520 227,880 227,880 227,880 227,880 911,520 Cart Rental (10% Revenue) 5 162,000 324,000 486,000 648,000 810,000 972,000 1,134,000 1,296,000 1,458,000 1,620,000 1,782,000 1,944,000 12,636,000 972,000 2,430,000 3,888,000 5,346,000 12,636,000 Mktg. Sales & Comm. 6 861,000 861,000 861,000 1,590,000 1,590,000 1,590,000 2,319,000 2,319,000 2,319,000 3,048,000 3,048,000 3,048,000 23,454,000 2,583,000 4,770,000 6,957,000 9,144,000 23,454,000 Grocery Store Operations 7 840,000 840,000 840,000 960,000 960,000 960,000 1,080,000 1,080,000 1,080,000 1,200,000 1,200,000 1,200,000 12,240,000 2,520,000 2,880,000 3,240,000 3,600,000 12,240,000 Total VC 2,925,360 3,327,360 3,729,360 5,220,360 5,622,360 6,024,360 7,275,360 7,677,360 8,079,360 9,330,360 9,732,360 10,134,360 79,078,320 9,982,080 16,867,080 23,032,080 29,197,080 79,078,320 Contribution Margin (CM) (1,305,360) (87,360) 1,130,640 1,259,640 2,477,640 3,695,640 4,064,640 5,282,640 6,500,640 6,869,640 8,087,640 9,305,640 47,281,680 -262,080 7,432,920 15,847,920 24,262,920 47,281,680 CM per Unit/Cart (5.44) (0.18) 1.57 1.31 2.06 2.57 2.42 2.75 3.01 2.86 3.06 3.23 16.42 (0.36) 5.16 7.34 8.42 16.42 Fixed Costs (FC) Accounting & Audit 8 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 8,000 8,000 23,000 Burcicki, Jim: Will cost 15k so I am assuming the expense is being accrued and therefore expensed in December as an adjusting entry. 93,000 Advertising (even distribution) 9 39,375 39,375 39,375 39,375 39,375 39,375 39,375 39,375 39,375 39,375 39,375 39,375 472,500 Auto Lease 10 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000 Bank Charges 11 167 167 167 167 167 167 167 167 167 167 167 167 2,000 Entertainment & Promotion 12 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000 Insurance 13 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 8,333 100,000 Legal 14 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000 Management Fees 15 24,167 24,167 24,167 24,167 24,167 24,167 24,167 24,167 24,167 24,167 24,167 24,167 290,004 Office & Sundry 16 5,000 5,000 5,000 3,000 3,000 3,000 4,000 4,000 4,000 5,000 5,000 5,000 51,000 Public Relations 17 33,333 33,333 33,333 33,333 33,333 33,333 33,333 33,333 33,333 33,333 33,333 33,333 400,000 Rent 18 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 120,000 Salaries & Benefits 19 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 288,000 Stationary & Printing 20 833 Burcicki, Jim: The author expenses the 10k in January. However, it states that the 10k will be purchased during the first quarter - first three months - in sufficient quantities to last the entire year. This should be a prepaid and then expensed during the year. With no set amoutns, I assumed an even distribution throughout the year. 833 833 833 833 833 833 833 833 833 833 833 10,000 Telephone & Faxc 21 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500 3,500 42,000 Travel & Accommodation 22 10,000 10,000 10,000 20,000 20,000 20,000 30,000 30,000 30,000 45,000 45,000 45,000 315,000 Total FC 186,709 186,709 186,709 194,709 194,709 194,709 205,709 205,709 205,709 223,709 223,709 238,709 2,447,504 560,126 584,126 617,126 686,126 2,447,504 Total Expenses (VC + FC) 3,112,069 3,514,069 3,916,069 5,415,069 5,817,069 6,219,069 7,481,069 7,883,069 8,285,069 9,554,069 9,956,069 10,373,069 81,525,824 10,542,206 17,451,206 23,649,206 29,883,206 81,525,824 Net Operating Income (1,492,069) (274,069) 943,931 1,064,931 2,282,931 3,500,931 3,858,931 5,076,931 6,294,931 6,645,931 7,863,931 9,066,931 44,834,176 -822,206 6,848,794 15,230,794 23,576,794 44,834,176 Break Even Point in terms of carts 149,081 Burcicki, Jim: The Formula Method - Managerial Accounting, 15th ed., Page 201 BE (Carts) = Total FC / (CM per Unit/Cart) 149,081 Burcicki, Jim: The Formula Method - Managerial Accounting, 15th ed., Page 201 BE (Carts) = Total FC / (CM per Unit/Cart) Break Even Point in terms of stores 745 Burcicki, Jim: The Equation Method - Managerial Accounting, 15th ed., Page 201 Break Even = Q Unit CM = CM / Total # of Stores Profit = Unit CM x Q - Fixed Expense Burcicki, Jim: The Formula Method - Managerial Accounting, 15th ed., Page 201 BE (Carts) = Total FC / (CM per Unit/Cart) 745 Burcicki, Jim: The Equaion Method - Managerial Accounting, 15th ed., Page 201 Break Even = Q Unit CM = CM / Total # of Stores Profit = Unit CM x Q - Fixed Expense Burcicki, Jim: Will cost 15k so I am assuming the expense is being accrued and therefore expensed in December as an adjusting entry. Burcicki, Jim: The author expenses the 10k in January. However, it states that the 10k will be purchased during the first quarter - first three months - in sufficient quantities to last the entire year. This should be a prepaid and then expensed during the year. With no set amoutns, I assumed an even distribution throughout the year. Burcicki, Jim: While amortization in its normal sense would be considered a FC, it is considered a VC here because the number of carts is variable even though we are using an average of 200 carts as the basis. Burcicki, Jim: The Formula Method - Managerial Accounting, 15th ed., Page 201 BE (Carts) = Total FC / (CM per Unit/Cart)
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Your assignment may be more than 5 paragraphs but not less. INSTRUCTIONS:  To access the FNU Online Library for journals and articles you can go the FNU library link here:  https://www.fnu.edu/library/ In order to n that draws upon the theoretical reading to explain and contextualize the design choices. Be sure to directly quote or paraphrase the reading ce to the vaccine. Your campaign must educate and inform the audience on the benefits but also create for safe and open dialogue. A key metric of your campaign will be the direct increase in numbers.  Key outcomes: The approach that you take must be clear Mechanical Engineering Organic chemistry Geometry nment Topic You will need to pick one topic for your project (5 pts) Literature search You will need to perform a literature search for your topic Geophysics you been involved with a company doing a redesign of business processes Communication on Customer Relations. Discuss how two-way communication on social media channels impacts businesses both positively and negatively. Provide any personal examples from your experience od pressure and hypertension via a community-wide intervention that targets the problem across the lifespan (i.e. includes all ages). Develop a community-wide intervention to reduce elevated blood pressure and hypertension in the State of Alabama that in in body of the report Conclusions References (8 References Minimum) *** Words count = 2000 words. *** In-Text Citations and References using Harvard style. *** In Task section I’ve chose (Economic issues in overseas contracting)" Electromagnetism w or quality improvement; it was just all part of good nursing care.  The goal for quality improvement is to monitor patient outcomes using statistics for comparison to standards of care for different diseases e a 1 to 2 slide Microsoft PowerPoint presentation on the different models of case management.  Include speaker notes... .....Describe three different models of case management. visual representations of information. They can include numbers SSAY ame workbook for all 3 milestones. You do not need to download a new copy for Milestones 2 or 3. When you submit Milestone 3 pages): Provide a description of an existing intervention in Canada making the appropriate buying decisions in an ethical and professional manner. Topic: Purchasing and Technology You read about blockchain ledger technology. Now do some additional research out on the Internet and share your URL with the rest of the class be aware of which features their competitors are opting to include so the product development teams can design similar or enhanced features to attract more of the market. The more unique low (The Top Health Industry Trends to Watch in 2015) to assist you with this discussion.         https://youtu.be/fRym_jyuBc0 Next year the $2.8 trillion U.S. healthcare industry will   finally begin to look and feel more like the rest of the business wo evidence-based primary care curriculum. Throughout your nurse practitioner program Vignette Understanding Gender Fluidity Providing Inclusive Quality Care Affirming Clinical Encounters Conclusion References Nurse Practitioner Knowledge Mechanics and word limit is unit as a guide only. The assessment may be re-attempted on two further occasions (maximum three attempts in total). All assessments must be resubmitted 3 days within receiving your unsatisfactory grade. You must clearly indicate “Re-su Trigonometry Article writing Other 5. June 29 After the components sending to the manufacturing house 1. In 1972 the Furman v. Georgia case resulted in a decision that would put action into motion. Furman was originally sentenced to death because of a murder he committed in Georgia but the court debated whether or not this was a violation of his 8th amend One of the first conflicts that would need to be investigated would be whether the human service professional followed the responsibility to client ethical standard.  While developing a relationship with client it is important to clarify that if danger or Ethical behavior is a critical topic in the workplace because the impact of it can make or break a business No matter which type of health care organization With a direct sale During the pandemic Computers are being used to monitor the spread of outbreaks in different areas of the world and with this record 3. Furman v. Georgia is a U.S Supreme Court case that resolves around the Eighth Amendments ban on cruel and unsual punishment in death penalty cases. The Furman v. Georgia case was based on Furman being convicted of murder in Georgia. Furman was caught i One major ethical conflict that may arise in my investigation is the Responsibility to Client in both Standard 3 and Standard 4 of the Ethical Standards for Human Service Professionals (2015).  Making sure we do not disclose information without consent ev 4. Identify two examples of real world problems that you have observed in your personal Summary & Evaluation: Reference & 188. Academic Search Ultimate Ethics We can mention at least one example of how the violation of ethical standards can be prevented. Many organizations promote ethical self-regulation by creating moral codes to help direct their business activities *DDB is used for the first three years For example The inbound logistics for William Instrument refer to purchase components from various electronic firms. During the purchase process William need to consider the quality and price of the components. In this case 4. A U.S. Supreme Court case known as Furman v. 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After establishing where each member is in relation to the family A Health in All Policies approach Note: The requirements outlined below correspond to the grading criteria in the scoring guide. At a minimum Chen Read Connecting Communities and Complexity: A Case Study in Creating the Conditions for Transformational Change Read Reflections on Cultural Humility Read A Basic Guide to ABCD Community Organizing Use the bolded black section and sub-section titles below to organize your paper. For each section Losinski forwarded the article on a priority basis to Mary Scott Losinksi wanted details on use of the ED at CGH. He asked the administrative resident