Sexuality, Sexuality And Sexual Orientation - 1111 Words

Kiara Rivas Sociology 1 Due Date: 5/5/15 Human Sexuality Sexuality is something that seems to dominate a lot of the world we live in. It’s in our schools, at work, and especially in the mass media. The way your body develops and the way you feel and respond to others sexually creates your sexuality (â€Å"Sexuality and Sexual Orientation†, Youthoria). It can shape and affect people’s lives as well as our own. Sexuality can be influenced by culture, religion, media, friends and experiences. Some people are very sexual, while others experience no sexual attraction at all. Sexuality has always been treated as taboo and some people are uncomfortable talking about it so they avoid it. For this reason sexuality can produce confusion, anxiety and fear. Sexuality includes much more than just sex. It includes anatomy, biological sex, gender, sexual orientation, relationships, and sexual behaviors (â€Å"Sex and Sexuality†, Planned Parenthood). Applying the sociological approaches will give us a better und erstanding of human sexuality. Now that we have some insight on what sexuality is, we can apply the sociological perspectives. Starting with the structural functional theory, this theory argues that society consists of interrelated parts that work together to promote social order, unity, and balance. The structural-functional paradigm can be broken down by other type on functions: manifest functions, latent functions, and dysfunctions. The manifest functions regulates with whom yourShow MoreRelatedSexuality : Human Sexuality, Sexual Orientation And Sexual Behavior1193 Words   |  5 Pages HUMAN SEXUALITY ReNata Shaw APUS: Human Sexuality Assignment 2 Resubmit Dr. Foster November 29, 2015 Human Sexuality Introduction Sexuality encompasses aspects in a person’s life that involves sex and gender identity, sexual orientation and sexual behavior. It encompasses the physical, social and psychological aspects of a person’s sexual behavior. It underpins what an individual is, affects the individual’s life wholesomely and is unique to each and every individualRead MoreSexual Orientation, Gender, And Sexuality2049 Words   |  9 Pagesexpressions sexual orientation and sex are frequently utilized conversely, the two words have altogether distinctive definitions. One could contend that sex alludes to organic essentialism and the thought that we are who we are a result of our hereditary material. Then again, sex is connected with the social constructionist hypothesis, which contends that the way we are is reliant on our race, class, and sexuality. Since every individual is distinctive in their race, class, and sexuality, their sexRead MoreSexuality : Teaching Sexual Orientation1844 Wor ds   |  8 PagesSexuality has become a touchy subject due to the major increase in gays, lesbians, and transgender. The considerable amount of young students who are claiming these titles are an even more sensitive subject which has grasped society. When it comes to the youth of the nation every one becomes concerns. The way students are being taught is already in question, it brings more concern to society when people want students to start learning about sexuality in schools as well. I will review four main issuesRead MoreHuman Sexuality And Sexual Orientation1544 Words   |  7 Pagescontroversy as sexual orientation. In cultures and societies today, as well as in the past, there is usually an emphasis on a specific orientation as a norm, and typically heterosexuality is perceived as such. This in turn generates a wide range of reaction to homosexuality, from its being seen as â€Å"unnatural† in moral terms, to ideas of it as threatening the stability of a culture. In recent years, however, new perspectives are emerging which strongly support that sexual orientation is by no meansRead MoreSexuality Is Defined By Sexual Orientation1538 Words   |  7 PagesSexuality is defined by â€Å"sexual orientation or preference† as well as the ability to understand the capacity of sexual desires. Same sex sexuality refers to sexual orientation also, but one’s preference towards someone of their same gender and the â€Å"erotic thoughts, feelings and behaviours† they assign to those of the same sex. Culturally, same sex sexuality is not always based on sexual ideals, acts that could be defined as being homosexual and appealing to those with same sex sexuality, oftenRead MoreSexuality, Gender, Masculinity, And Sexual Orientation991 Words   |  4 Pageslong way to go to de-genderize sexuality, or to unlink sexuality, gender identity, and gender roles. As seen in various studies including â€Å"The Complex Negotiations of Gender Ro les, Gender Identity, and Sexual Orientation† by Nagoshi et. al, â€Å"Does Nature Rule? A Sex Reassignment Tragedy† by Lindsey, and â€Å"‘I Always Felt I Had to Prove My Manhood’: Homosexuality, Masculinity, Gender Role Strain, and HIV Risk Among Young Black Men Who Have Sex With Men† by Fields, sexuality is often strongly associatedRead MoreGay Marriage And Its Slow Progression Of Acceptance1441 Words   |  6 Pagessociety, sexuality is a subject that plays a huge role in daily life and is becoming a common and prominent theme in society as more time passes. According to the American Psychological Association, sexual orientation refers to the sex or sexual interest to whom one is sexually and romantically attracted to. Heterosexuality, homosexuality and bisexuality are the three mostly familiar categories of sexual orientation for a typical person, and these sexualities make up for 98.9% of the sexual orientationRead MoreMen Who Have Sex With Me n Essay1476 Words   |  6 Pages MSM Men Who Have Sex With Men A Critical Concept Essay Tara L. Gill CIIS Sexuality is historically rooted vacillating through out time, adjusting to the individuals personal experience and is influenced by cultural norms. In the United States, sexual behavior and attitudes are driven by variations in gender, social class, ethnicity, and religion. In fact, sexuality is fluid and is different for everyone. It is a unique, diverse, complicated, secretive, and puzzling experienceRead MoreShould Same Sex Marriage Be Legal?1551 Words   |  7 Pagesfrom heterosexuality, there are so many other types of sexual orientation. The current stereotypes of homosexuality and other types of sexualities have a negative connotation. In today’s society, it is perhaps the lack of education, and religious beliefs that caused this rift. Many people do not realize that there is a difference between gender identity and sexual orientation. As well that there is many different types of sexual orientations and what they all mean. The country, itself, has presentedRead MoreN ature Vs. Nurture : Psychology And Biology1449 Words   |  6 Pagesfactors on sexual orientation is still a controversial topic which is currently being discussed in both psychological and biological debates. While many researchers agree that both factors have pivotal influences on the determination of sexual orientation, there are others who feel that either environment, or genetics play a role but not both. Personally, I feel that both genetics and environmental cues affect sexuality. While genetics may make a person more inclined towards a certain sexual identity

An Importance of the Spiritual Faith - Free Essay Example

Sample details Pages: 4 Words: 1173 Downloads: 8 Date added: 2019/03/22 Category Religion Essay Level High school Topics: Faith Essay Did you like this example? Introduction: Death has perpetually been the common debated discussion concerning humans belief. As we all know death is the closing journey in life; hence, all living beings will inevitably die. It is part of nature, yet a mystery nobody has endured telling. Don’t waste time! Our writers will create an original "An Importance of the Spiritual Faith" essay for you Create order It is said to inspire peoples works. Although, death is still a story as the entire human community still wonders how it runs on peoples lives. Nurses perform an essential role in caring for dying patients and their families. Because of this, nurses need to evaluate their beliefs and feeling of death before providing care to patients. Personal Experience: Back in 2011, I was a Certified Nursing Assistant (CNA) I was carrying for one of my patients who was neared to death and had a status of Do Not Resuscitate (DNR). 68 years-old female was diagnosed with bone cancer taking treatment of radiation and chemotherapy. But the therapies were not helping help, so she decided to go on Hospice care. Her family was unhappy with her decision and was not readied to let her go yet, but she was prepared to go to heaven. A few years ago, during one of her hospitals stays she had filled out an advanced directive. She entirely agreed with her decisions that she made. However, she was dying and did not want her life to be continued any longer than it had, because she understood the severity of her condition and knew that her life would nevermore go back to what it used to be. After one and half month on her final days, a hospice nurse came to give her morning bed bath. I was her CNA, and I still remembered when I was helping the hospice nurse giving her morning bed bath she was skinny, pale, her mouth, and eyes were dry, her body was cold, and skin appeared to be weeping and moist. Her family was at the bedside with her to say their goodbye and they knew she would be passing any time. Now that I got the news, I undergo all the stages of depression and grief. As I learned about postmortem care during my nursing school, I clean my patient and prepare a person for immediate viewing as wanted by family members. I quietly stay with family for a while to support them. I found her family was still holding her hand, crying, and pleading with God. It addressed me understand that life is too short. I gave families unlimited time and provide privacy. Personal Faith and Death: Inside the United States, we ought to consider Immigrants from across the earth that various traditional cultures including religious faiths. Being health care professionals, we necessarily possess in-depth knowledge regarding diversity. To speak about culture including the holy faith one has just enough skill of religion and spirituality. As a health care professional, its essential to know the fundamental component about each faith to implement that best possible care to each of the patients. However, its impossible to be knowledgeable about all religion presented to healthcare workers. In order to give optimal care, its imperative to evaluate our patient spiritual faith also its part in their health care. We all grew up beside loved ones alone around us; it is our families, friends, also pets, and several times we do not deem that we will ever lose them. Placing me in the dying position my biggest fear would be leaving my family behind. The feeling of being never seeing them after death is unexplainable. But either way death and dying is a normal part of human being life. It is a natural part of a persons life, in that what has a beginning will ultimately come to an end. Nurses Rule and Post-Mortem Care: Caring for a dying patient is a necessary part of each nurses duty. However, it is now a fact that caregivers frequently have struggled in dealing with such activity. Throughout the end of life care nurse should recognize an end-of-life care plan, advanced directives, including caregiver support (Potter Perry, 2017). The nurses primary role in caring for a patient before death includes talk to the person even if the person does not respond because they can hear you. Keep the perineal area clean and dry, the position for comfort, administer medications to maintain symptoms of pain, restlessness, avoid noxious stimuli and do not force a person to eat or drink. The nurses first role in caring for a patient after death is clean the patient from head to toe, removed all equipment, indwelling, and tubes lines such as feeding tube. It is a nurse responsibility to applied identify name tags on person and closed the eyes if its open. Documentation the entire event and notified provider, chaplain, and mortuary. Dress a client for transport to the morgue or funeral home per facility contract. California Advance Directives: Most people think that advance directives are for older adults that however are just not true. Advance directives are a way for our families to make medical decisions for us when we are in a critical state. I appreciate my quality of life. I have always wanted to support other people thats why even though after I die, I planned to donate my organs because some peoples in the world are waiting for organs to received and live their life. I believe becoming an organ donor after death is not merely an essential decision for myself. Still, it is further a necessary choice for the life that I may have the ability to save. Nurses Role in the Dying Experience One of the most remarkable things as nurses we can do for patients that are dying is to implement the best reasonable care for them and their families and friends through the last phase of life through death. It is necessary that the nurse performs thorough assessments, rapid response to changes in status, rapid titration of medications, and timely discontinuation and an introduction of interventions aimed to promote comfort (Potter Perry, 2017). Make sure you maintain the patient essential dignity and respect during the last phase of life. I deem training will help, and respecting patients wishes and dreams for ending of life care need to be in considerations. Conclusion: Caring dying patient was an excellent experience for me to see because situations like my patient she was willing to go to heaven but a family was not ready yet to phase that phase. As a nurse, in the future, I most likely be caring for a few patients like this, and it is good to see different situations. Some patients may have family that agrees with the patient, some may have family that doesnt recognize when the patient wants to be on life support, and some may be like the case I had. My practice will prepare me to understand with the patients family during the end of life care. It is testing to deal with the loss of a loved one, but acceptance makes it a bit smoother to move on.

My Observations On Technology Advances Criticism Essay

Introduction As technology advances criticism typically arises stating American’s are less social, unable to communicate face to face, and are losing important aspects of the physical world. One example of this can be found within Education. Students today seem to be spending less money on physical books and choosing to save with E-Books. Due to this observation one question comes to mind, is this decision transferring over into the personal lives of Americans. In order to attempt to answer this question, we have narrowed our scope down to another book that many hold, the Bible. I chose to observe the congregation of Faircreek Church in Fairborn, Ohio and record if they are carrying a physical Bible or if they intend to use technology. Since it would be typical for churchgoers to own a version of the Bible, I decided that this would be an appropriate environment to observe reading habits. Setting My observations took place at Faircreek Church, 2400 Faircreek Ridge Dr., Fairborn, OH 45324 in the main parking lot. Observations were conducted on Sunday, September 18, 2016 prior to the church’s first and second services and it was 72 degrees Fahrenheit. Faircreek Church is a nondenominational Christian church with a Baptist background. Observations for first service were made from 0905 hrs. to 0930 hrs. Observations were made for second service from 1038 hrs. to 1113 hrs. I picked these times because Faircreek Church holds services at 0930 hr. and at 1100 hr. I picked thisShow MoreRelatedIs Google Making Us Stupid?948 Words   |  4 PagesMany people may argue that technology has helped us become more efficient in today’s society. Technological advances such as the internet and Google has also opened up many new opportunities for people. However, with such advances some may argue that we begin to lose some of our cognitive thinking ability. In an essay, â€Å"Is Google Making Us Stupid?† by Nicholas Carr, he argues his thesis that people will lose concentration and cognitive thinking as a result to reading online. Carr begins by explainingRead MoreAnnotated Bibliography On Family Therapy1629 Words   |  7 Pagesthe main focus or purpose of each author s work; Background and credibility of each author; Intended audience for the work; Any unique feature of the work; Theoretical understandings; Family therapy strategies or techniques; and a Conclusion or observations presented in the work. Communication in cultural diversity is one very important issue that families, couples, singles, Christian counselors, and therapists might encounter in their scope of practice. The book entitled, â€Å"ChristianRead MoreQuestions On Requirements Gathering And Analysis1439 Words   |  6 Pages Table of Contents Iteration 1: Requirement gathering and analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 2 Plan†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2 Action†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 Observation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 Reflection†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.5 Iteration 1: Requirement gathering and analysis Plan This Iteration was done from February 07th, 2016 to February 16st, 2016. In this Iteration stage, theRead MoreIs Joseph Conrad a Racist and Does His Work Portray It? Essay3298 Words   |  14 Pagesopinion for Conrad is: The point of my observations should be quite clear by now, namely that Joseph Conrad was a thoroughgoing racist. That this simple truth is glossed over in criticisms of his work is due to the fact that white racism against Africa is such a normal way of thinking that its manifestations go completely unremarked. (An Image of Africa, Achebe, 1975) Achebe comments on Conrad’s work as a hidden product of racism because criticisms for Heart of Darkness mask the racism andRead MoreCulture and Creative Industry Week 1 Essay2403 Words   |  10 PagesAura, Capitalism, Fascism, Media Criticism, Fan Culture, Mass Communication One sentence summary: This essay is important for understanding the intersections of art, technology, and politics under capitalism. One paragraph abstract: Technology has allowed the mechanical reproduction of works of art that has changed art from ritual objects to objects for exhibition.   This reproduction devalues the art because it has no aura.   This change means that technology can put the reproduction in a situationRead MoreEssay on Causes of Depression in the Millennial Generation1523 Words   |  7 Pagesgeneration. An aspect that does not aid their case of stress and depression is that they have grown-up in times where punishment and discipline are scarce. Many of them fail to handle even simple criticism easily due to being told they are destined to succeed all their life. It has been my observation that perhaps the largest contributors to the commonality of severe depression among the Millennials are their environmental influences. Fifty percent of marriages in the U.S. end in divorce; thoughRead MoreEssay on Cmi L3 30093002 Words   |  13 Pagespractice. Recently, a casual conversation highlighted that a colleague that signs off withdrawals for the areas that I support had left City College. This had not been communicated to my department and I had been emailing her for a week. Forgetting to pass on critical information and lack of communication wasted my resources, and also meant that Service Level Agreements were not met. This created a feeling of irritation toward the department that should have provided the communication. When a messageRead MoreE Banking : Customer Perception And. Acceptance Essay2016 Words   |  9 Pagesstay productive in effective. The observation is the structured as an aftereffect of translating the experience. There is a developing enthusiasm toward comprehension the clients experience as it is seen as a bigger idea than client fulfillment. From this point of view, evaluating the client experience is crucial for some engineering items and administrations. METHODOLOGY OBJECTIVE: The exploration has been led to dissect the client observation towards internet keeping money andRead MoreNature Science6230 Words   |  25 Pagesage on Wasp Head, NSW Australia. Photo by Gary B. Lewis. Table of Contents What is Science? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Scientiï ¬ c Method . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Observation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Question . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Hypothesis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Experiment . .Read MoreEssay on Forensic Sciences: The Science of Fingerprint Identification1865 Words   |  8 PagesAfter giving much thought to the many areas covered by Forensics Sciences, the main criteria to which my choices were narrowed and ultimately the final decision of Ballistics and/or Fingerprint Analysis was based on by the complexity of the job, need for a keen eye, and my wanting to be challenged in a career. I have no doubt that there are other areas that would be just if not more challenging however interest is a another key element in the making such a life changing and difficult decision.

Solutions Manual free essay sample

Horizontal analysis examines how a particular item on a financial statement such as sales or cost of goods sold behaves over time. Vertical analysis involves analysis of items on an income statement or balance sheet for a single period. In vertical analysis of the income statement, all items are typically stated as a percentage of sales. In vertical analysis of the balance sheet, all items are typically stated as a percentage of total assets. By looking at trends, an analyst hopes to get some idea of whether a situation is improving, remaining the same, or deteriorating. Such analyses can provide insight into what is likely to happen in the future. Rather than looking at trends, an analyst may compare one company to another or to industry averages using common-size financial statements. 16-3Price-earnings ratios reflect investors’ expectations concerning future earnings. The higher the price-earnings ratio, the greater the growth in earnings investors expect. We will write a custom essay sample on Solutions Manual or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page For this reason, two companies might have the same current earnings and yet have quite different price-earnings ratios. By definition, a stock with current earnings of $4 and a price-earnings ratio of 20 would be selling for $80 per share. 16-4A rapidly growing tech company would probably have many opportunities to make investments at a rate of return higher than stockholders could earn in other investments. It would be better for the company to invest in such opportunities than to pay out dividends and thus one would expect the company to have a low dividend payout ratio. 16-5The dividend yield is the dividend per share divided by the market price per share. The other source of return on an investment in stock is increases in market value. Financial leverage results from borrowing funds at an interest rate that differs from the rate of return on assets acquired using those funds. If the rate of return on the assets is higher than the interest rate at which the funds were borrowed, financial leverage is positive and stockholders gain. If the return on the assets is lower than the interest rate, financial leverage is negative and the stockholders lose. 16-7If the company experiences big variations in net cash flows from operations, stockholders might be pleased that the company has no debt. In hard times, interest payments might be very difficult to meet. On the other hand, if investments within the company can earn a rate of return that exceeds the interest rate on debt, stockholders would get the benefits of positive leverage if the company took on debt. 16-8The market value of a share of common stock often exceeds the book value per share. Book value represents the cumulative effects on the balance sheet of past activities, evaluated using historical prices. The market value of the stock reflects investors’ expectations about the company’s future earnings. For most companies, market value exceeds book value because investors anticipate future earnings growth. 16-9A 2 to 1 current ratio might not be adequate for several reasons. First, the composition of the current assets may be heavily weighted toward slow-turning and difficult-to-liquidate inventory, or the inventory may contain large amounts of obsolete goods. Second, the receivables may be low quality, including large amounts of accounts that may be difficult to collect. The company’s major problem seems to be the increase in cost of goods sold, which increased from 58. 6% of sales last year to 62. 3% of sales this year. This suggests that the company is not passing the increases in costs of its products on to its customers. As a result, cost of goods sold as a percentage of sales has increased and gross margin has decreased. This change has been offset somewhat by reduction in administrative expenses as a percentage of sales. Note that administrative expenses decreased from 10. 3% to only 8. 9% of sales over the two years. However, this decrease was not enough to completely offset the increased cost of goods sold, so the company’s net income decreased as a percentage of sales this year. Exercise 16-2 (30 minutes) 1. Calculation of the gross margin percentage: 2. Calculation of the earnings per share: 3. Calculation of the price-earnings ratio: 4. Calculation of the dividend payout ratio: 5. Calculation of the dividend yield ratio: The most noticeable thing about the assets is that the accounts receivable have been increasing at a rapid rate—far outstripping the increase in sales. This disproportionate increase in receivables is probably the chief cause of the decrease in cash over the five-year period. The inventory seems to be growing at a well-balanced rate in comparison with sales. Liabilities: The current liabilities are growing more rapidly than the total current assets. The reason is probably traceable to the rapid buildup in receivables in that the company doesn’t have the cash needed to pay bills as they come due. Both of these rates of return are smaller than the return that the company is earning on its total assets; thus, the difference goes to the common stockholders. Exercise 16-7 (30 minutes) 1. Gross margin percentage: 2. Current ratio: 3. Acid-test ratio: 4. Debt-to-equity ratio: 5. Average collection period: Exercise 16-7 (continued) 6. Average sale period: 7. Times interest earned: 8. Book value per share: Exercise 16-8 (20 minutes) 1. Earnings per share: 2. Dividend payout ratio: 3. Dividend yield ratio: 4. Price-earnings ratio: Exercise 16-9 (20 minutes) 1. Return on total assets: 2. Both the current ratio and the acid-test ratio are well below the industry average and are trending downward. At the present rate, it will soon be impossible for the company to pay its bills as they come due. c. The drain on the cash account seems to be a result mostly of a large buildup in accounts receivable and inventory. Notice that the average age of the receivables has increased by five days since last year, and now is 10 days over the industry average. Many of the company’s customers are not taking their discounts because the average collection period is 28 days and collections terms are 2/10, n/30. This suggests financial weakness on the part of these customers, or sales to customers who are poor credit risks. Problem 16-12 (continued) d. The inventory turned only five times this year as compared to over six times last year. It takes nearly two weeks longer for the company to turn its inventory than the average for the industry (73 days as compared to 60 days for the industry). This suggests that inventory stocks are higher than they need to be. e. In the authors’ opinion, the loan should be approved only if the company gets its accounts receivable and inventory back under control. If the accounts receivable collection period is reduced to about 20 days, and if the inventory is pared down enough to reduce the turnover time to about 60 days, enough funds could be released to substantially improve the company’s cash position. Then a loan might not even be needed. Problem 16-13 (60 minutes) This Year Last Year 1. a. Net income $280,000 $196,000 Less preferred dividends 20,000 20,000 Net income remaining for common (a) $260,000 $176,000 Average number of common shares (b) 50,000 50,000 Earnings per share (a) ? (b) $5. 20 $3. 52 b. Dividends per share (a) $1. 80 $1. 50 If investors were willing to pay 12 times current earnings for Sabin’s stock, it would be selling for about $62. 40 per share (12 ? $5. 20), rather than for only $40 per share. Problem 16-13 (continued) This Year Last Year e. Total stockholders’ equity $1,600,000 $1,430,000 Less preferred stock 250,000 250,000 Common stockholders’ equity (a) $1,350,000 $1,180,000 Number of common shares outstanding (b) 50,000 50,000 Book value per share (a) ? (b) $27. 00 $23. 60 The market value is above book value for both years. However, this does not necessarily indicate that the stock is overpriced. The stock’s downside risk seems small because it is now selling for only 7. 7 times earnings to 12 times earnings for other companies in the industry. In addition, its earnings are strong and trending upward, and its return on common equity (20. 6%) is extremely good. Its return on total assets (12. 1%) compares well with that of the industry. The risk, of course, is whether the company can get its cash problem under control. Conceivably, the cash problem could worsen, leading to an eventual reduction in profits through inability to operate, a discontinuance of dividends, and a precipitous drop in the market price of the company’s stock. This does not seem likely, however, because the company has borrowing capacity available, and can easily control its cash problem through more careful management of accounts receivable and inventory. The client must understand, of course, that there is risk in the purchase of any stock; the risk seems well justified in this case because the upward potential of the stock is great if the company gets its problems under control. Net income before interest and income taxes (a) $1,560,000 $1,020,000 Interest expense (b) $360,000 $300,000 Times interest earned (a) ? (b) 4. 3 3. 4 4. Both net income and sales are up from last year. The return on total assets has improved from 5. 1% to 6. 8%, and the return on common equity is up from 4. 9% to 9. 2%. But this is the only bright spot. Virtually all other ratios are below what is typical of the industry, and, more important, they are trending downward. The deterioration in the gross margin percentage, while not large, is worrisome. Sales and inventories have increased substantially. Ordinarily, this should result in an improvement in the gross margin percentage due to fixed costs being spread over a greater number of units. However, the gross margin percentage has declined. Notice particularly that the average collection period has lengthened to 52 days—about three weeks over the industry average. One wonders if the increase in sales was obtained at least in part by extending credit to high-risk customers. Notice also that the debt-to-equity ratio is rising rapidly. If the $3,000,000 loan is granted, the ratio will rise further to 1. 09. What the company probably needs is more equity—not more debt. The company’s current position has declined substantially between the two years. Cash this year represents only 5. 6% of total assets, whereas it represented 10. 5% last year (cash + marketable securities). In addition, both accounts receivable and inventory are up from last year, which helps to explain the decrease in the cash account. The company is building inventories, but not collecting from customers. (See Problem 16-14 for a ratio analysis of the current assets. ) Apparently a part of the financing required to build inventories was supplied by short-term creditors, as evidenced by the increase in current liabilities. Looking at the income statement, as noted in the solution to the preceding problem there has been a slight deterioration in the gross margin percentage. Ordinarily, the increase in sales (and in inventories) should have resulted in an increase in the gross margin percentage because fixed manufacturing costs would be spread across more units. Note that the selling and administrative expenses are down as a percentage of sales—possibly because many of them are likely to be fixed. Problem 16-16 (45 minutes) Effect on Ratio Reason for Increase, Decrease, or No Effect 1. Decrease Declaring a cash dividend will increase current liabilities, but have no effect on current assets. Therefore, the current ratio will decrease. 2. Increase A sale of inventory on account will increase the quick assets (cash, accounts receivable, marketable securities) but have no effect on the current liabilities. For this reason, the acid-test ratio will increase. The same effect would result regardless of whether the inventory was sold at cost, at a profit, or at a loss. That is, the acid-test ratio would increase in all cases; the only difference would be the amount of the increase. 3. Increase The interest rate on the bonds is only 8%. Since the company’s assets earn at a rate of return of 10%, positive leverage would come into effect, increasing the return to the common stockholders. 4. Decrease A decrease in net income would mean less income available to cover interest payments. Therefore, the times-interest-earned ratio would decrease. 5. Increase Payment of a previously declared cash dividend will reduce both current assets and current liabilities by the same amount. An equal reduction in both current assets and current liabilities will always result in an increase in the current ratio, so long as the current assets exceed the current liabilities. No Effect The dividend payout ratio is a function of the dividends paid per share in relation to the earnings per share. Changes in the market price of a stock have no effect on this ratio. Problem 16-16 (continued) Effect on Ratio Reason for Increase, Decrease, or No Effect 7. Increase A write-off of inventory will reduce the inventory balance, thereby increasing the turnover in relation to a given level of sales. 8. Decrease Sale of inventory at a profit will increase the assets of a company. The increase in assets will be reflected in an increase in retained earnings, which is part of stockholders’ equity. An increase in stockholders’ equity will result in a decrease in the ratio of assets provided by creditors as compared to assets provided by owners. 9. Decrease Extended credit terms for customers means that customers on the average will be taking longer to pay their bills. As a result, the accounts receivable will â€Å"turn over,† or be collected, less frequently during a given year. 10. Decrease A common stock dividend will result in a greater number of shares outstanding, with no change in the underlying assets. The result will be a decrease in the book value per share. No Effect Book value per share is dependent on historical costs of already completed transactions as reflected on a company’s balance sheet. It is not affected by current market prices for the company’s stock. 12. No Effect Payments on account reduce cash and accounts payable by equal amounts; thus, the net amount of working capital is not affected. 13. Decrease The stock dividend will increase the number of common shares outstanding, thereby reducing the earnings per share. Problem 16-16 (continued) Effect on Ratio Reason for Increase. Payments to creditors will reduce the total liabilities of a company, thereby decreasing the ratio of total debt to total equity. 15. Decrease A purchase of inventory on account will increase current liabilities, but will not increase the quick assets (cash, accounts receivable, marketable securities). Therefore, the ratio of quick assets to current liabilities will decrease. 16. No Effect Write-off of an uncollectible account against the Allowance for Bad Debts will have no effect on total current assets. For this reason, the current ratio will remain unchanged. The price-earnings ratio is obtained by dividing the market price per share by the earnings per share. If the earnings per share remains unchanged, and the market price goes up, then the price-earnings ratio will increase. 18. Decrease The dividend yield ratio is obtained by dividing the dividend per share by the market price per share. If the dividend per share remains unchanged and the market price goes up, then the yield will decrease. Problem 16-17 (30 minutes) a. It is becoming more difficult for the company to pay its bills as they come due. Although the current ratio has improved over the three years, the acid-test ratio is down. Also notice that the accounts receivable and inventory are both turning more slowly, indicating that an increasing portion of the current assets is being made up of these items, from which bills cannot be paid. b. Customers are paying their bills more slowly in Year 3 than in Year 1. This is evidenced by the decline in accounts receivable turnover. c. The total of accounts receivable is increasing. This is evidenced both by a slowdown in turnover and in an increase in total sales. d. The level of inventory undoubtedly is increasing. Notice that the inventory turnover is decreasing. Even if sales (and cost of goods sold) just remained constant, this would be evidence of a larger average inventory on hand. However, sales are not constant, but rather are increasing. With sales increasing (and undoubtedly cost of goods sold also increasing), the average level of inventory must be increasing as well to service the larger volume of sales. e. The market price is going down. The dividends paid per share over the three-year period are unchanged, but the dividend yield is going up. Therefore, the market price per share of stock must be decreasing. f. The amount of earnings per share is increasing. Again, the dividends paid per share have remained constant. However, the dividend payout ratio is decreasing. In order for the dividend payout ratio to be decreasing, the earnings per share must be increasing. g. The price-earnings ratio is going down. If the market price of the stock is going down [see Part (e) above], and the earnings per share are going up [see Part (f) above], then the price-earnings ratio must be decreasing. h. In Year 1 and in Year 2 there was negative leverage because in both years the return on total assets exceeded the return on common equity.