Corporate Finance Research Paper Example | Topics and Well Written Essays - 1250 words

Corporate Finance - Research Paper Example Total numbers of shares are taken as follows: = Year end $ value / $10 of face value Working: = Total Earnings/ No. of shares = 441,000 / 31,800 = 13.86 approximately $14 Earnings per share = $ 14 Considering a 50% payout ratio, the dividend would be $7 The reasonable estimate of the 50% of the shares therefore would be: = 31800 x 50% = 15900 Estimate = 15900 x 86.95 Total Best Estimate = $ 1,382,505 Q#2 Market Structure and trading conditions The total market of the Polishing and other allied products are over $4.5Billion. The market is largely fragmented with many small to medium players serving different niches of their target market. Essentially, the market is distributed into three distinct categories based on product classification. Carlton falls under the category of Chemical suppliers supplying chemicals to independent distributors who then sell to the end users. The fragmentation of the market is also due to low barriers to entry due to low cost of production involved. Since, the market is typically divided into two broader classes of chemical supplies and cleaning machinery therefore the overall cost of producing is low. This is also reflected from the fact that the gross margin of Carlton is 44% suggesting that the cost of producing the finished goods is relatively low. However, net margin within this industry is relatively low mainly due to high marketing costs involved. It has been the industry practice that distributors once acquired are hard to replaced therefore it require higher resources and persuasion to list a distributor serving the competitors. Most of the costs, therefore, are incurred in marketing overheads therefore the overall net margins are low in industry as most... The fragmentation of the market is also due to low barriers to entry due to low cost of production involved. Since, the market is typically divided into two broader classes of chemical supplies and cleaning machinery therefore the overall cost of producing is low. This is also reflected from the fact that the gross margin of Carlton is 44% suggesting that the cost of producing the finished goods is relatively low. However, net margin within this industry is relatively low mainly due to high marketing costs involved. It has been the industry practice that distributors once acquired are hard to replaced therefore it require higher resources and persuasion to list a distributor serving the competitors. Most of the costs, therefore, are incurred in marketing overheads therefore the overall net margins are low in industry as most of the key players have negative growth rates in terms of their net income. Overall the market is competitive with no clear market leadership however; different players serve their target markets with moderate success due to long established business and consumer relationships strengthened due to delivering high end services. Historically, Co has profitable with consistent growth rates achieved in both revenue as well as profitability.

Evolution Essay Example | Topics and Well Written Essays - 500 words

Evolution - Essay Example The Theory of Inheritance of Acquired Characteristics put forward by Jean-Baptiste Lamarck in 1809 states that modifications acquired during one’s lifetime are inherited by the next generation. â€Å"Ex. giraffes acquired a long neck slowly over time as each generation of giraffe stretched its neck slightly longer in trying to reach leaves high in trees† (Principles of Evolution, n. d). Lamarck’s theory seems to be in agreement with the Darwinian Theory which states that evolution produces life forms adapted to their environments. However, Lamarck argued that the organism itself can control the direction of change whereas Darwin did not agree with that postulate. â€Å"For a long time it was mistakenly thought that evolution was a simple linear progression, with humankind at the top of the ladder. We now understand that evolution proceeds with species on one branch giving rise to other branches and so on† (What is evolution?, n. d). We have lot of animals in this world which like the leaves in big trees. For example, elephants, cattle etc like the leaves of some big trees. However, these animals do not have such a big neck like the giraffes. These animals also should have tried a lot in the past to reach out the higher branches of the trees. But they never got their neck extended just like giraffes.