The following information pertains to Houston, Inc. a manufacturer of belt buckles: (dollar amounts in thousands) 2012 2013 2014 2015 2016 2017 Net Cash Flow from Operations 564 628 854 1,059 1,345 1,655 Interest Expense after tax 122 134 148 145 155 148 Decrease (Increase) in Cash -75 -54 -48 -32 -61 -48 Required for Operations Net Cash Flow from Investing -287 -300 -310 -285 -294 -277 Net Cash from Debt Financing 210 204 140 85 -40 -46 Present Value Factors for 8.5% 0.922 0.849 0.783 0.722 0.665 1. What is Houston's free cash flow for common equity holders for year 2012?
A. $564.
B. $399.
C. $324.
D. $202.
2. What is Houston's free cash flow for all debt and equity holders for year 2012?
A. $564.
B. $399.
C. $324.
D. $412.

Profits from using currency options and futures.on july 2, the two-month futures rate of the mexican peso contained a 2 percent discount (unannualized). there was a call option on pesos with an exercise price that was equal to the spot rate. there was also a put option on pesos with an exercise price equal to the spot rate. the premium on each of these options was 3 percent of the spot rate at that time. on september 2, the option expired. go to the oanda.com website (or any site that has foreign exchange rate quotations) and determine the direct quote of the mexican peso. you exercised the option on this date if it was feasible to do so. a. what was your net profit per unit if you had purchased the call option? b. what was your net profit per unit if you had purchased the put option? c. what was your net profit per unit if you had purchased a futures contract on july 2 that had a settlement date of september 2? d. what was your net profit per unit if you sold a futures contract on july 2 that had a settlement date of september 2

Adamson company manufactures four lines of garden tools. as a result of an activity analysis, the accounting department has identified eight activity cost pools. each of the product lines is produced in large batches, with the whole plant devoted to one product at a time. classify each of the following activities or costs as either unit-level, batch-level, product-level, or facility-level. activities (a) machining parts. (b) product design. (c) plant maintenance. (d) machine setup. (e) assembling parts. (f) purchasing raw materials. (g) property taxes. (h) painting.

Which of the following businesses is most likely to disrupt an existing industry? a. closer connex developed an earphone that receives emails and text messages and converts them to voice messages. the first models had poor reception, but they rapidly improved over time. b. mega technologies reconfigured the components used in its touchscreen tablets to create a new type of wearable device for use in restaurants and other service industries. c. particle inc. developed a teleportation technology that can transport physical materials instantaneously across great distances. d. altrea added advanced camera technology to its premium line of smartphones so that they would take the highest-quality photos of all phones on the market.