solved For this Discussion, you will take on the role of

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For this Discussion, you will take on the role of a particular stakeholder in an institution of higher education. As you learned this week, an institution’s financial state is reflected in its financial statements: Statement of Financial Position, Statement of Activities, and Statement of Cash Flows. First, identify which stakeholder role you want to play. You may be an administrator or manager in a department, a donor or investor, a faculty member, a community or business leader, someone from the U.S. Department of Education, or other stakeholder.Then consider what data from financial statements would be relevant to you? How can you analyze and use the information provided in the institution’s financial statements? How do your needs and perspectives compare to those of another stakeholder or interest group?Post a summary of your thoughts on the questions above. Be sure to support your response with references to this week’s Learning Resources and personal references where applicable. Required ReadingsBarr, M. J., & McClellan, G. S. (2018). Budgets and financial management in higher education (3rd ed.). San Francisco, CA: Jossey-Bass.
Chapter 2, “Primary Elements of the Budget Revenue and Expenses”Focus on the notable differences in the sources of revenue between public and private higher education and the differences between restricted and unrestricted expenditures.Goldstein, L. (2019). College and university budgeting: A guide for academics and other stakeholders (5th ed.). Washington, DC: National Association of College and University Business Officers.
Chapter 4, “Revenues and Resources”Focus on the various sources of revenue and income that an institution of higher education receives and the various types of expenditures. https://class.content.laureate.net/7a13723a9c89113…https://mym.cdn.laureate-media.com/2dett4d/Walden/… Optional ResourcesDesrochers, D. M., Hurlburt, S. (2015). Trends in college spending 2003–2013: Where does the money come from? Where does it go? What does it buy? Retrieved from the Delta Cost Project website: http://www.deltacostproject.org/sites/default/file…U.S. Securities and Exchange Commission. (2007). Beginners’ guide to financial statements. Retrieved from http://www.sec.gov/investor/pubs/begfinstmtguide.h… Note: The following article, and some of the other articles in this course, can be found in the Walden Library databases, accessed from your myWalden page. For each article, select Research Databases and under the title Search for Journals, type the name of the journal in the box next to the pull-down menu that reads “Title equals.” Then, search for the appropriate year and issue number to locate your article. As an alternative, after selecting Research Databases, click on the A to Z List of Databases to find a complete list of databases. Search the database (included after each article citation) using the article’s title and/or author(s). Tollefson, T. A. (2009). Community college governance, funding, and accountability: A century of issues and trends. Community College Journal of Research & Practice, 33(3/4), 386–402.Note: Retrieved from the Walden Library using the Education Research Complete database.Association of Governing Boards http://agb.org/ Delta Cost Project on Postsecondary Education Costs, Productivity, and Accountability https://deltacostproject.org/ National Association of College and University Business Officers http://www.nacubo.org/

solved For this final paper, you will be reviewing and reflecting

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For this final paper, you will be reviewing and reflecting on the quality management concepts and knowledge gained throughout the course. You will be applying your critical thinking, drawing your own conclusions, and applying what you have learned to improve quality and performance excellence. Follow the prompts below and make sure to address each in sufficient depth to answer the questions and cover the associated concepts. This will serve as a good review of the content, methods, and principles learned of total quality management (TQM). 
As you work on your final paper, keep in mind the following bullet point observations on the role of quality.

Six quality perspectives are listed below and explain how each quality perspective applies to the product or service:

Quality in manufacturing.
Quality in service organizations.
Quality in business support functions.
The role of the quality function.
Quality and competitive advantage (business results).
Quality and personal values.

Modern day quality management practices represent the approaches that organizations use to achieve the quality management principles.
Customer satisfaction is vital to keeping customers and growing a business.

Customer requirements, as expressed in the customer’s own terms, are called the voice of the customer.

Organizations continue to learn that to satisfy customers, they must first satisfy the workforce. (Review Chapter 4, specifically Table 4.1: Key Workforce-Focused Practices for Quality, and the two Chapter 4 sections: High-Performance Work Cultures, and Principles of Workforce Engagement and Motivation.)
Motivation theories can be applied to support high performance in any organization.

In your paper,

Explain how your selected organization applies the six steps from key customer-focused practices for quality management in the customer focus to meet or exceed customer requirements.
Identify which of the variety of methods, or “listening posts,” your selected organization uses to gather the voice of the customer, including their needs and expectations, their feeling of importance, and their satisfaction as a customer.
Evaluate the principles of workforce engagement, and empowerment and motivation, and evaluate why these two items are important to quality, and which five of Deming’s 14 points relate directly to the notion of empowerment.
Apply one content theory, one process theory, and one environmentally-based theory to your selected organization, detailing the context and situation.
State if the selected organization has a high-performance work culture and describe why or why not.
Summarize how your selected organization embodies the Baldrige Award Excellence Framework, core values, and processes.
Assess the impact, if any, of the Baldrige Award Excellence Framework and the Deming philosophy on the organization.
Select a product or service that your organization, or an organization of your choosing, purchases on a regular basis:

Explain why quality is important to that product or service.
Evaluate the competitive environment for the product or service selected.
Appraise how each quality perspective applies to the selected product or service and why.
Illustrate how each of the seven quality management principles pertain to your organization or an organization of your choosing using three approaches per principle.
Appraise how the Deming philosophy and Deming’s 14 points may apply to the product or service selected.

solved IntroductionIn this session, you have been considering moral-ethical dilemmas you

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IntroductionIn this session, you have been considering moral-ethical dilemmas you yourself faced or that you know of that you either resolved or failed to resolve, but hopefully learned from. You may never have given much thought to ethical theory nor what ethical premises/paradigms you have unconsciously held.You will be focusing on this case for this assignment:Jane Doe is a nursing student at University X. Jane is in week eight of a course entitled: “Introduction to Ethics”.For the week one discussion, Jane copied work done by her friend John Doe in the same class two months ago (with a different professor). John told Jane it was okay to use his work as John’s professor never checked any work in the class using a website to check. John claimed to have earned an A on the work also.In week two, Jane went to StudentPapering.com and paid ten dollars for a week two essay done by a student (not John Doe) who took the same course four months ago. StudentPapering promises that all its archived work is of excellent quality and cannot be detected as copied. Jane then uploaded an exact copy of the work for the week two assignment.In week three, Jane paid a worker at PaperingStudent.com ten dollars to write for Jane a brand new essay after Jane shared with the worker the essay assignment instructions.In week four, Jane relied on her knowledge of Esperanto. She felt pressed for time and found an article by a professor from Esperanto on the week four topic. She translated Esperanto into English using Moogle Translate, and the translated text served as her week four paper.souSince Jane’s Ethics professor did not check papers and posting for any issues by using check website or another method, the professor graded all of Jane’s work unaware of Jane’s actions throughout the weeks of the class. Jane feels her actions are morally justified both because her economic situation requires her to work too much to devote time to school (although other students are well-off enough to have such time) and her religion forbids cheating, but Jane ignores her religion’s teachings.InstructionsNow that you have had an opportunity to explore ethics formally, create a reflective assessment of your learning experience and the collaborations you engaged in throughout this session. You will submit of the following:A written reflectionFor the written reflection, address Jane Doe’s and respond to the following:Articulate again your moral theory from week eight discussion (You can revise it if you wish). What two ethical theories best apply to it? Why those two?Apply to Jane Doe’s case your personal moral philosophy as developed in week eight discussion and now. Use it to determine if what Jane Doe did was ethical or unethical per your own moral philosophy.Consider if some of these examples are more grave instances of ethical transgressions than others. Explain.Propose a course of social action and a solution by using the ethics of egoism, utilitarianism, the “veil of ignorance” method, deontological principles, and/or a theory of justice to deal with students like Jane. Consider social values such as those concerning ways of life while appraising the interests of diverse populations (for instance, those of differing religions and economic status).Writing Requirements (APA format)Length: 3-4 pages (not including title page or references page)1-inch marginsDouble spaced12-point Times New Roman fontTitle pageReferences page (minimum of 2 scholarly sources)

solved 1. THE FORGOTTEN MINORITY IN POLICE SHOOTINGS (Links to an

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1. THE FORGOTTEN MINORITY IN POLICE SHOOTINGS (Links to an external site.) – Article – CDC Statistics Say That Native Americans Are More Likely to Be Killed by Law Enforcement Than Any Other Group. Focus on the issues in the questions/prompts as you read the article carefully and take notes.Understanding and interpreting what different kinds of statistics tell us is very important and the difference between numbers and rates is one of the most important differences.a. Describe in your own words what the first chart tells us about all the groups on it. At least 4 sentencesb. Explain the difference between the NUMBER of deaths of Native Americans and the RATE of deaths? (A smaller number of Native Americans are killed by police, but the rate of deaths is the highest) At least 2 sentencesb. Why are the deaths at the hands of law enforcement likely underestimated and why are “Native American people basically invisible in the statistics and to most people in the country.”? (There is information scattered throughout the article about how the deaths of Native Americans at the hands of law enforcement are underestimated.) At least 3 sentencesc. Briefly describe the circumstances of the deaths of Paul Castaway, Corey Kanosh, Zachary Bearheels and Loreal Tsingine. 3 sentences about eachd. How are the circumstances of the killings of the following Native Americans; Paul Castaway, Corey Kanosh, Zachary Bearheels and Loreal Tsingine SIMILAR to the killings of African Americans at the hand of the police? At least 3 sentences2. ENDING VIOLENCE AGAINST NATIVE AMERICAN WOMEN (Links to an external site.) – ARTICLEFocus on the issues in the questions/prompts as you read the article carefully and take notes.a. Describe the level of violence against indigenous women. At least 3 sentencesb. Briefly discuss racial discrimination and equality under the law. At least 3 sentencesc. Briefly describe how this violence is a violation of human rights? At least 3 sentencesd. Briefly describe the reforms needed to protect and restore the safety of Native American women. At least 3 sentences3. INSIDE LIFE ON THE LAKOTA SIOUX RESERVATION (Links to an external site.) – ROBERT LOOKS TWICE – Video -6 minutesa. Tell me ALL about Robert as an individual AND as a Lakota Sioux. At least 3 sentencesb. Describe his family, his home AND his community. At least 3 sentences c. Describe several emotions you felt as you watched this video? At least 2 sentences4. NAVAJO CODE TALKERS (Links to an external site.) Video – 8 Minutesa. Several native languages were used as codes during earlier wars. Why was the Navajo language the best candidate to use as a code in World War II? The answers to this part are spread throughout the video. At least 3 sentences. b. Navajos had to develop the code themselves and they used the “substitution” method instead of direct translation. Describe how that method works. At least 3 sentences. c. How effective were the code and the Code Talkers during WW II? At least 2 sentences. d. Why was the program kept secret/classified? When they returned home from the war, the Code Talkers were not allowed to tell anyone, even family what they had been doing. There are clues in the video about the following question, but you will need to use critical thinking to figure it out. At least 3 sentences. e. Fill in the blanks, number of Navajo on their reservation _______, the number who speak Navajo at home according to the 2010 U.S. Census _______ .

solved Health Promotion & Middle-Age AdultsFor this Discussion, your instructor will

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Health Promotion & Middle-Age AdultsFor this Discussion, your instructor will assign you a case number.Case 1Case 2Case 3 CasesJ.G. is a nurse practitioner working in a health clinic. Her clinic provides care to a majority of Hispanic migrant farmworkers during the summer months. Farmworkers in the area are susceptible to health problems because they are in a low-income bracket and may be exposed to unsanitary working and housing conditions. The workers do not tend to seek preventive care because of finances, transportation, and fear of deportation in many instances.She struggles with the delivery of fragmented services within the migrant community because individuals move around frequently. In her encounters with the patients she serves, she has to stress early the importance of screening and follow-up care. She must also carefully assess the level of health literacy when providing education. In addition, She remains culturally sensitive to the beliefs and practices of the population she serves.K.Y. is an employee-health nurse practitioner for a large corporation. Her role is to advocate for her clients by helping them improve their quality of life, both for the present and the future, through the identification of risk factors, health promotion, and other nursing interventions. The majority of the employees She sees are middle-age adults.Her clients come to see her for a variety of reasons, including stress, mental illness, and on-the-job injuries. K.Y. assists her clients by providing education about healthy lifestyle choices, referrals to community resources, and counseling.R.K. is a home health nurse practitioner who delivers primary care to a predominantly Medicare population. The role of the home health nurse practitioner is to provide assessments to individuals inclusive of the environment, provide direct skilled care and treatment, and provide education and referrals as needed. He must work closely with the patient and his or her caregiver in trying to prevent complications of illness.R.K. specializes in providing wound care services in the home. He visits many diabetic patients living in a senior community. These patients are considered to be homebound and use wheelchairs or walkers to reach the common dining room where meals are served every evening. He is interested in assessing the nutritional content of the meals that are served.Questions for the caseCreate a list of health hazards associated with the migrant population in general and the one referred on the case. Which would be your recommendations to the migrant population to prevent injuries related to those hazards and how to improve their health.Make a summary of the typical biological changes in the middle-age adult.Create a list of recommendations of major activities older adults can engage in to promote health and prevent frailty.Once you received your case number; answer the specific question on the table above. Then, continue to discuss the 3 topics listed below for your case:Discuss how you would advise young adults in selecting contraceptive methods. Do you have any personal, religious reservations, or discomforts that would interfere with your ability to advise clients and ask them how they would address these personal conflicts?Have students develop a smoking cessation plan for a client.Evaluate the impact of poverty on older adults. Make sure to include the impact on their physical and mental health and health promotion recommendations.

solved Social inequalities essay on poverty in the U.S. healthcare system.

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Social inequalities essay on poverty in the U.S. healthcare system. Page Length: 5 pages, double-spaced, 1” margins, 12 pt in Times New RomanThis essay represents a thorough exploration of a form of social inequality that you are interested toexamine more closely.1. Select a form of inequality that you would like to explore more in-dpeth: i.e. incarceration andrace, sexual harassment, poverty, educational inequalities, health disparities etc.2. Search through academic literature for theoretical approaches and/or empirical studies thataddress this topic. Make sure you narrow down your focus (i.e. one cannot examine “poverty” in fivepages, but you can discuss “poverty and access to health care” or “poverty and environmental racism”or “poverty and residential segregation”).3. Outline your paper as follows with labeled sections I-IV (but not with sub-sections a,b,c, etc.):I. Introduction (1 page)a. Introduce your topici.e. “This essay explores the relationship between educational inequalities and socialclass, as reflected in the differential academic outcomes of various socioeconomicgroups.”b. Provide an overview of the problem.i.e. “The ‘achievement gap’, as it is discussed in the relevant literature reflects thediscrepancy between the test scores, GPA scores, and other achievement measures ofchildren from working- and lower-middle class and upper-middle and upper-class.”c. Conclude with a thesis statement that summarizes your argument.i.e. “Given the apparent injustices entrenched in the broader society, I argue that theeducational system reproduces social inequalities…”II. Discussion (4-5 pages)a. Review the literature that addressed this form of inequality and discuss:i. Its causes (what historical circumstances gave rise to it, how is it perpetuated,which ideologies/traditions/laws/norms justify/rationalize its presence).ii. Its relationship with social institutions (how are the institutions of law, politics,education, family, media, labor market etc. implicated in this process; whichspecific institutional policies and practices produce this inequality.Focus on one or two cases (no need to address each and every institution ofthe above list).iii. Its consequences (who benefits and who suffers from this arrangement,what is the impact on different social groups,This is a literature review, which means you need to draw substantially fromthe articles/book chapters you identified (not use your own opinion).Paraphrase or use direct quotes. Be sure to cite these sources within the text and in your references section at the end of your paper. Make sure youincorporate concepts and terminology that we encountered in our readings or in thearticles you found.III. Conclusion (½ page)a. Summarize what you did in this paper.b. Conclude with your thesis statement (not copied pasted!) that shows how what youexplained above supports its legitimacy.IV. References or Works Cited (1 additional page)a. On a separate page, cite the sources used within your paper, including both academicand non-academic.b. Required Number of References: 5 academic sources. Use 1-2 articles from theassigned readings and 3-4 other academic sources; you can also use additional nonacademic sources if you want (i.e. newspaper articles, white papers etc.).c. Use the ASA style for citations and references. You can find the ASA guide ongauchospace under “Resources”.d. Make sure your references are in alphabetical order.

solved I’m working on a Management question and need guidance to

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I’m working on a Management question and need guidance to help me study.

1)IntroYou’ve collected the following information about a company:AssetsLiabilities and EquityCash10,000Accounts payable17,000Marketable securities2,000Notes payable6,000Accounts receivable4,000Current liabilitiesInventory31,000Long-term debt95,000Current assetsTotal liabilitiesMachines34,000Paid-in capital20,000Real estate80,000Retained earningsFixed assetsEquityTotal assetsTotal liab. & equityQUESTIONS- What is total equity?- What is retained earnings?2)IntroEmily Lim owns and runs an ice cream parlor in San Diego. Last year, she had sales of $430,000 and an average tax rate of 26%. She spent $43,000 on ingredients, $21,500 on utilities, and $77,400 to rent the premises.Emily has a few employees and paid them $86,000 in wages in total. She also paid herself a salary of $64,500 and spent $43,000 to pay for employee benefits.A few years ago, Emily borrowed money to buy the ice making equipment. Last year, she paid $21,500 in interest on that loan. Depreciation for the equipment was $12,900.QUESTIONS- What was net income for the year?3)IntroA company has $14,500,000 in taxable income. Consider the following corporate marginal tax rates:Taxable income ($)Tax rate0-50,00015%50,001-75,00025%75,001-100,00034%100,001-335,00039%335,001-10,000,00034%10,000,001-15,000,00035%15,000,001-18,333,33338%18,333,334+ 35%QUESTIONS- What is the total tax bill for the company, i.e., how much does the company have to pay in taxes (in $)?4)IntroBelow is the balance sheet for Northern Comfort Company for December 31 of 2019 and 2020. 20192020 20192020Cash950 1,100 Accounts payable2,850 3,300Accounts receivable2,850 3,300 Current liabilities 2,850 3,300Inventory2,8503,300 Long-term debt 5,700 6,600Current assets6,6507,700 Total liabilities 8,550 9,900Net fixed assets12,35014,300 Equity 10,450 12,100Total assets19,00022,000 Total liab. & equity19,00022,000The income statement for 2020 is also given: AmountSales52,800Cost29,040Depreciation7,920EBIT15,840Interest5,280EBT10,560Taxes3,274Net income7,286QUESTIONS- What was the operating cash flow for 2020?- What was the change in net working capital? – What was net capital spending in 2020? – What was the cash flow from assets for 2020?5)IntroBelow is the balance sheet for Trinity Motors Company for December 31 of 2019 and 2020. 20192020 20192020Cash900 1,000 Accounts payable2,700 3,000Accounts receivable2,700 3,000 Current liabilities 2,700 3,000Inventory2,7003,000 Long-term debt 5,400 6,000Current assets6,3007,000 Total liabilities 8,100 9,000Net fixed assets11,70013,000 Equity 9,900 11,000Total assets18,00020,000 Total liab. & equity18,00020,000The income statement for 2020 is also given: AmountSales48,000Cost26,400Depreciation7,200EBIT14,400Interest4,800Taxes2,400Net income7,200 Dividends6,480QUESTIONS- What was the cash flow from assets in 2020?- What was the cash flow to creditors in 2020?- What was the cash flow to stockholders in 2020?6)IntroYou’ve collected the following information about a company:AssetsLiabilities and EquityCash12,000Accounts payable19,000Marketable securities2,000Notes payable6,000Accounts receivable6,000Current liabilitiesInventory38,000Long-term debt95,000Current assetsTotal liabilitiesMachines34,000Paid-in capital20,000Real estate80,000Retained earningsFixed assetsEquityTotal assetsTotal liab. & equityQUESTIONS – What are total assets?- What is total equity?- What is retained earnings?

solved (Answer the six questions )The knowledge we gather from research

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(Answer the six questions )The knowledge we gather from research is a product of the research process and depends on how well we have done at researching. Learning how to research well comes with experience – the more you research the better you get at refining search terms, knowing which sources are best and using your time efficiently. However, each time we conduct research it is beneficial to stop at some point and see what information we have gathered, how helpful that information is, and what else we might need. Now is that time. Start by considering the knowledge you have about your topic. If you have basic knowledge you can probably engage in a one or two minute conversation about that topic. If your knowledge is deep enough to begin a research essay, you should be able to imagine presenting on the topic for 15 or 20 minutes. Do you think you have enough information gathered or knowledge to rely on yet?Consider this: it’s only a start to collect information about your topic, but you’ll have to write about its significance to your topic. Can you do that yet? We can test where we are with our research by asking ourselves the following questions to reflect on what we have and what else we might need:Does the researched information provide background on the topic to situate the knowledge about it – specifically what has been said about it already, what is known or unknown, who has written about it or said it and when?Does the information support or further develop an idea or claim I think I want to make? Is it able to provide evidence that what I’m saying might be true? Does it qualify an idea about my topic that I want to present? Does it provide additional information I can use to add to the significance of the idea(s) I have about this topic?Does the information challenge what I’ve been thinking, or make it more complicated in some way? Does it raise additional questions I may not have considered, or provide a point of view I don’t share? Does it change my thinking in some way?Considering all of these questions, complete the following assignment:Write a 300-word reflection on where you think your research has led you – what are the key ideas emerging from your sources, and do you have a working hypothesis in mind? Explore what you have – take stock – using the prompts above to guide your reflection.At the end of your Reflection, come up with three possible thesis statements around which you might organize your essay. You don’t have to stick with any of them – but trying to formulate a thesis at this point will help you understand if you have research to support one.Create a rough outline that provides structure to your research essay. Reflect on your sources, the information you have found thus far, and arrange your main ideas in a way that makes sense to you.What are the key points of information from your research you think would be valuable to contribute to an essay. Just list those points for now.Looking at your key points, what is the significance of each? Does each contribute to the existing conversation around your topic? Do you have evidence to support them? Which ones are stronger ideas and connect to your research more effectively?What other information might help you convey the significance of these points? What do you think might be missing from your research, or make your research stronger? What other points can you imagine making that you might need evidence to support?

solved The creature makes a request of Victor: to create a

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The creature makes a request of Victor: to create a female companion. What is the basis for the creature’s request? What is Victor’s reaction to the request? How does the interaction between Victor and his creation impact Victor? Explain how the creature’s request affects Victor by analyzing the relationship between Victor and the creature. Provide evidence from the text to support your analysis of Victor and his interaction with his creation.Frankenstein Chapter 17Read the excerpt from Chapter 18 in Frankenstein.Alas! To me the idea of an immediate union with my Elizabeth was one of horror and dismay. I was bound by a solemn promise which I had not yet fulfilled and dared not break, or if I did, what manifold miseries might not impend over me and my devoted family! Could I enter into a festival with this deadly weight yet hanging round my neck and bowing me to the ground? I must perform my engagement and let the monster depart with his mate before I allowed myself to enjoy the delight of a union from which I expected peace.Examine this excerpt to analyze the way the author’s choice of words adds to the meaning and impacts the tone of this portion of Frankenstein. What does Victor mean when he talks about “this deadly weight yet hanging round my neck and bowing me to the ground”? How do these words affect the tone at this point in the story? Use examples and evidence from the text to support your analysis.Frankenstein Chapter 18For part of Chapter 19 in Frankenstein, Victor structures his telling of the story by describing the places he and Henry Clerval visit on their way to Scotland. There is much description of their journeys through Windsor, Oxford, Matlock, Cumberland and Westmorland, and Edinburgh; however, Victor just briefly mentions passing through Coupar, St. Andrew’s, and Perth, where they are to meet their friend.Explain why Victor chooses to describe Oxford and Cumberland/Westmorland in much more detail than Matlock and Edinburgh, and only mentions Coupar, St. Andrew’s, and Perth. How do these descriptions affect the pacing of the story? How does this structure contribute to the overall visual impact of these descriptions? Provide examples and evidence from the text to support your responses.Frankenstein Chapter 19In this chapter, Victor encounters the creature, who has been following him from Switzerland to the island in Scotland. Victor considers the “offer” made by the creature and changes his mind. What makes Victor break his promise to the creature? How does the interaction between Victor and the creature affect their relationship and their actions? How do their actions help develop the plot in this chapter? Provide evidence from the text to support your analysis of the plot.Frankenstein Chapter 20Write an objective summary of Chapter 21 of Frankenstein. As you develop this summary, make sure to include the important actions and events from this chapter of the story. Also, describe how the chapter develops central ideas or themes to produce a complex account.Frankenstein Chapter 21When Victor is making his way back to Switzerland with his father, and a few days before the two of them leave for Paris, Victor receives a letter from Elizabeth. Why did the author use a letter to convey Elizabeth’s thoughts and feelings in the story? How does the letter influence Victor’s actions in this chapter? Provide evidence from the text to support your responses.Frankenstein Chapter 22

solved ESTATE TAXES Scenario: You are an entry-level CPA at Ernst

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ESTATE TAXES
Scenario:
You are an entry-level CPA at Ernst & Old LLP, and you impressed your managers a couple weeks ago on the Jan, Franklin, and Terry project. They are now testing your knowledge of S corporations and a little bit of gift and estate tax planning.
The McNally family owns McNally Motors (an S Corporation) operating as a Ford dealership in Elport, NJ. It is owned by three brothers, Floyd, Harold, and Kevin, each holding 400 shares. Floyd is the eldest of the brothers, and he desires to sell his shares to his son Floyd II. Harold has no children and plans to hold his shares until his death. The other owners will have first right of refusal to acquire his shares and have utilized a life insurance policy to provide for the proceeds necessary to buy out his estate’s shares. Kevin, the youngest, is in no rush to get out of the business. Kevin does have two daughters, however, who are interested in purchasing a nearby auto body shop because it would be a great ancillary business to the dealership. They all have basis of $500K in McNally Motors; a recent business valuation shows the FMV of McNally Motors to be $3M.
Role:
As you can see, they each want to dispose of (or hold onto) their shares in a different manner. They each need help understanding what the income, gift, and/or estate tax consequences are of their anticipated actions. It’s your chance to impress yet again and seek a promotion. It’s time for you to decide.
Players;
Floyd McNally: Chairman of the Board, pictured with his son Floyd Jr.

Married
Ready to retire; age 67
Desires to sell his shares (at a 25% discount) to his son Floyd Jr.

Harold McNally: General Manager, McNally Motors

Single man, age 65
No children
Plans to hold his shares and work some capacity until his death. This dealership is his life!
Estate to sell shares to other shareholders for life insurance proceeds (under buy-sell agreement) at FMV

Kevin McNally: Married, father of two daughters

Married man, age 55
Has long-term business plans and has no current plan to retire
Wants to gift his daughters $2M to purchase an existing auto body shop

Deliverable:
Given the scenario provided and having received an introduction to the players, it is your time to decide what Floyd, Harold, and Kevin should do. Their initial questions include the following.

Does the fact that McNally Motors is organized as an S corporation provide any limitations on their decisions regarding transition of ownership?
What are the consequences to Floyd McNally if he sells his shares to Floyd II in a bargain sale (say 75% of the FMV)? What are the income tax consequences to Floyd? To Floyd II? What will Floyd II’s basis be in the shares?
Harold wants to know if his estate will have to pay estate tax when he dies. In addition to his shares in McNally Motors, he has $3M in his 401(K) and $1M in his brokerage account. Beneficiaries of his estate are his nieces and nephews. Will his estate be liable for estate tax?
Can Kevin take a cash distribution out of McNally Motors (his two brothers taking nothing at this time) to give to his daughters to acquire the auto body shop? What are the consequences of this distribution? Will he owe gift tax if he outright gifts the cash to them? Does he have any options to minimize the gift tax?

Assignment:
Write a 750–1,000 word (12 point, double-spaced, 1″ margins, Times New Roman) memo to Floyd, Harold, and Kevin addressing the four aforementioned issues.