Excerpts from dowling company's december 31, 2018 and 2017, financial statements and key ratios are presented below (all numbers are in millions): 2018 2017accounts receivable (net) $ 20 $ 16net sales $ 115 $ 100cost of goods sold $ 60 $ 55net income $ 20 $ 17inventory turnover 5.22return on assets 10.3 %equity multiple 2.36dowling's 2018 profit margin is (rounded): (a) 18.5%.(b) 16.5%.(c) 17.4%.
(d) 18.0%.

What is private equity investing? who participates in it and why? how is palamon positioned in the industry? how does private equity investing compare with public market investing? what are the similarities and differences between the two? why is palamon interested in teamsystem? does it fit with palamon’s investment strategy? how much is 51% of teamsystem’s common equity worth? use both a discounted cash flow and a multiple-based valuation to justify your recommendation. what complexities do cross-border deals introduce? what are the specific risks of this deal? what should louis elson recommend to his partners? is it a go or not? if it is a go, what nonprice terms are important? if it’s not a go, what counterproposal would you make?