You are in charge of the annual banquet for the Football Boosters Club at your college. One week before the banquet you must make a commitment for the number of dinners. The price for these dinners will be $7 each. If fewer people show up than the committed number, you are still required to pay for the full number. If more people attend than your committed number, they will be served at a cost of $12 each. For example, if you commit for 200 people and 200 or fewer show up, you still have to pay $1,400. If more than 200 attend, you pay $1,400 plus $12 for each dinner in excess of 200. Your judgment about the number attending can be described by a normal probability distribution with mean of 400 people and standard deviation of 100. Suppose the cost of the banquet is being borne entirely by the Alumni Association, your objective is to minimize the cost, given that all who attend will be served. How big a prior commitment for dinners should you make to the hotel?

Kandon enterprises, inc., has two operating divisions; one manufactures machinery and the other breeds and sells horses. both divisions are considered separate components as defined by generally accepted accounting principles. the horse division has been unprofitable, and on november 15, 2018, kandon adopted a formal plan to sell the division. the sale was completed on april 30, 2019. at december 31, 2018, the component was considered held for sale. on december 31, 2018, the company’s fiscal year-end, the book value of the assets of the horse division was $415,000. on that date, the fair value of the assets, less costs to sell, was $350,000. the before-tax loss from operations of the division for the year was $290,000. the company’s effective tax rate is 40%. the after-tax income from continuing operations for 2018 was $550,000. required: 1. prepare a partial income statement for 2018 beginning with income from continuing operations. ignore eps disclosures. 2. prepare a partial income statement for 2018 beginning with income from continuing operations. assuming that the estimated net fair value of the horse division’s assets was $700,000, instead of $350,000. ignore eps disclosures.