It is January 1st and the Bluefin Corporation wants to renew its $12,000,000 short-term bank loan with the Texas Commerce Bank (TCB) for this coming year. Last year, Bluefin reported sales of $50,000,000. Its total assets equaled $40,000,000 on average during the year. Its short-term liabilities consisted of an average of $10,000,000 in Account Payable, in addition to the $12,000,000 in short-term bank debt, for which it pays an interest rate of 6.5% per year to TCB. It has no other liabilities. Its net profit margin was 3% and its tax rate is 40%. The bank covenant negotiated with TCB stipulates that the loan will not be renewed unless the company maintains a Times -Interest-Earned (TIE) ratio of at least 5.0. Will the bank renew its $12,000,000 short-term loan this coming year? Explain your answer and show all calculations clearly.

Prepare journal entries for each transaction and identify the financial statement impact of each entry. the financial statements are automatically generated based on the journal entries recorded. apr. 1 tanner invested $80,000 cash along with office equipment valued at $26,000 in the company in exchange for common stock. apr. 2 the company prepaid $9,000 cash for 12 months' rent for office space. the company's policy is record prepaid expenses in balance sheet accounts. apr. 3 the company made credit purchases for $8,000 in office equipment and $3,600 in office supplies. payment is due within 10 days. apr. 6 the company completed services for a client and immediately received $4,000 cash. apr. 9 the company completed a $6,000 project for a client, who must pay within 30 days. apr. 13 the company paid $11,600 cash to settle the account payable created on april 3.apr. 19 the company paid $2,400 cash for the premium on a 12-month insurance policy. the company's policy is record prepaid expenses in balance sheet accounts. apr. 22 the company received $4,400 cash as partial payment for the work completed on april 9.apr. 25 the company completed work for another client for $2,890 on credit. apr. 28 the company paid $5,500 cash in dividends. apr. 29 the company purchased $600 of additional office supplies on credit. apr. 30 the company paid $435 cash for this month's utility bill.

Steele bicycle manufacturing company currently produces the handlebars used in manufacturing its bicycles, which are high-quality racing bikes with limited sales. steele produces and sells only 10,000 bikes each year. due to the low volume of activity, steele is unable to obtain the economies of scale that larger producers achieve. for example, steele could buy the handlebars for $31 each: they cost $34 each to make. the following is a detailed breakdown of current production costs: after seeing these figures, steele's president remarked that it would be foolish for the company to continue to produce the handlebars at $34 each when it can buy them for $31 each. calculate the total relevant cost. do you agree with the president's conclusion?

Ok, so, theoretical question: if i bought the mona lisa legally, would anyone be able to stop me from eating it? why or why not?